Turkey Economy
Last update : 08 July 2026, Wednesday / 12:02
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Latest Turkey Economy News
Central Bank: Strong exports offset energy import surge
The Central Bank of Türkiye said on Monday that the country's foreign trade balance improved in the second quarter despite soaring energy costs triggered by the US-Israel-Iran war, as robust export performance and declining non-energy imports offset the shock.
06 July 2026
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Turkish defense, aerospace exports top $11B for first time
Türkiye’s defense and aerospace exports surpassed $11 billion on a 12-month basis for the first time, with June exports rising 29.6% year-on-year to $802.8 million. The sector’s first-half exports reached $4.67 billion, up 29.5% from the same period last year.
04 July 2026
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Türkiye’s 12-month exports hit record $278B
Türkiye’s 12-month rolling exports reached a record $278 billion in June, with monthly exports rising 21.9% to $24.94 billion. Annualised goods and services exports surpassed $400 billion for the first time, marking a historic milestone.
03 July 2026
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Türkiye’s annual inflation eases to 32.11% in June
Türkiye’s annual consumer inflation eased to 32.11% in June, slightly below market expectations, with monthly price increases limited to 0.99%. Housing, energy, and food were the main drivers, while transportation prices fell, easing upward pressure.
03 July 2026
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Turkish firm plans up to 20 SMRs with US partner
IC Holding aims to deploy up to 20 small modular reactors across Türkiye and the region under a partnership with US-based ARC Clean Technology. The 100-megawatt sodium-cooled 4th-generation reactors could also support industrial applications requiring high-temperature process heat.
03 July 2026
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Piaggio Aerospace exceeds first-year targets after Baykar acquisition
Baykar has surpassed its first-year targets for Piaggio Aerospace, exceeding commitments in production, employment, and investment. The Italian aviation firm has restored operations, launched a new industrial plan, and unveiled the Avanti NX, with production targets set at 20‑25 aircraft annually.
02 July 2026
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Türkiye launches AI action plan with grants and $10B target
Türkiye has begun implementing its national AI strategy with new funding programmes, international research partnerships, and a target of mobilising at least $10 billion for data centres, cloud computing, and AI infrastructure. The plan aims to generate over 1 trillion liras in added economic value.
02 July 2026
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Europe heatwaves boost Turkish climate control exports demand
Rising heatwaves across Europe are accelerating demand for Turkish air conditioning and HVAC systems as extreme temperatures reshape energy needs and building standards. Industry representatives say cooling solutions are no longer a luxury but a necessity, creating long-term export opportunities for Türkiye’s manufacturers in both residential and industrial markets.
02 July 2026
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Turkish defence exports near $11B as NATO sales accelerate
Turkish defence and aerospace exports jumped 47.1% to $10.9 billion in the year to May 2026, with NATO members accounting for 57.3% of total exports. The sector’s export value per kilogram reached nearly 40 times Türkiye’s overall average.
01 July 2026
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Türkiye urges EU visa ease, clarity on ‘Made in EU’ rules
Trade Minister Ömer Bolat has called on the EU to simplify visa procedures and clarify ‘Made in EU’ origin rules, warning that protectionist proposals could undermine the Customs Union. He also highlighted Türkiye’s growing role as a regional transit hub amid Middle East disruptions.
01 July 2026
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Economists expect Türkiye’s annual inflation to ease to 32.17% in June
Consumer prices are projected to rise 1.04% month-on-month, according to an Anadolu survey of 17 economists. Annual inflation is expected to fall to 32.17% from 32.61% in May, while the average year-end forecast stands at 29%.
29 June 2026
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Turkish, Saudi business chambers sign trade and investment deal
TOBB and the Federation of Saudi Chambers signed an MoU to expand bilateral trade, launching a joint action plan and a Türkiye-Saudi Joint Chamber Forum. TOBB President Hisarcıklıoğlu called for combining Islamic countries’ capital with Türkiye’s manufacturing strength to create a global economic bloc.
29 June 2026
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World Bank, IFC highlight Türkiye's SME strength, financing gaps
World Bank and IFC officials said Türkiye's small and medium enterprises form the backbone of the national economy while accounting for over two-thirds of total employment, urging Ankara to implement comprehensive reforms that close persistent financing gaps and accelerate digital transformation for sustainable growth.
28 June 2026
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Türkiye reaches historic $395.9B export milestone, Erdogan says
President Recep Tayyip Erdogan announced at the Turkish Exporters Assembly that Türkiye reached a historic milestone in foreign trade with $395.9 billion in goods and services exports in 2025, highlighting the country's 23 consecutive quarters of uninterrupted growth achieved despite challenging global economic tensions.
27 June 2026
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Turkish industrial goods sales exceed $600B in 2025
Sales of industrial goods manufactured in Türkiye reached 24.03 trillion liras ($608.3 billion) in 2025, up 27.7% year‑on‑year. The country produced 1.2 million automobiles and 8.3 million refrigerators, with food products accounting for 15.5% of sales and high‑tech products for 3.6%.
26 June 2026
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Türkiye targets 80% recycling rate by 2053, says COP31 president
Environment and Climate Change Minister Murat Kurum said Türkiye aims to raise its recycling rate from the current 37% to 80% by 2053 as part of its circular economy goals, announcing new restrictions on single-use plastics and a deposit return system set to launch next month ahead of the COP31 summit in Antalya.
25 June 2026
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Türkiye's central bank chief says inflation expectations steady despite geopolitical risks
Fatih Karahan said on Wednesday that inflation expectations have shown limited deterioration despite ongoing geopolitical tensions, noting that slowing domestic demand alongside easing food and energy supply shocks will shape Türkiye's price outlook in the coming period and support disinflation across sectors.
25 June 2026
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Türkiye's Simsek: Climate action protects growth, stability
Treasury and Finance Minister Mehmet Simsek said climate action is essential for protecting economic growth and stability against future shocks, warning that the global community must shift from setting ambitious targets to rapid implementation as developing nations confront a $2.5 trillion annual financing gap by 2030.
25 June 2026
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Türkiye’s bottle deposit system aims to boost economy by $645M annually
Türkiye’s new Deposit Return System for Beverage Packaging (DOA) is expected to contribute approximately 30 billion liras ($645 million) annually to the economy while reducing waste and greenhouse gas emissions. Consumers will receive 1 lira per returned container through reverse vending machines. The system launches nationwide July 1.
23 June 2026
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