Limited Gains Must Not Obscure the Bigger Picture
We are navigating a period in which the balance of global trade is shifting rapidly and competition is intensifying with each passing day. On the one hand, growing protectionist tendencies and rising tariff barriers, and on the other, mounting pressure from domestic production and financing costs, are increasing the burden on our exporters. Against this backdrop, it has become more critical than ever for Türkiye to preserve its production capacity, broaden the base of its exports and strengthen its position in global markets.
Under these circumstances, beginning the second half of the year with an increase in exports is, of course, encouraging for us. In July, we recorded exports worth $25.6 billion. This marked our highest-ever export figure for the month of July. At the same time, we achieved our second-highest monthly export volume after December 2025. Consequently, our exports in the first seven months of the year reached $161.6 billion, while our exports over the past 12 months rose to $278.6 billion. We are up 3.4 per cent in both seven-month and 12-month exports.
Every increase reinforces our confidence in our producers, our exporters and our country's objectives. However, at this juncture, we must also state clearly that limited gains do not mean that everything is proceeding as it should. We have been contending with the challenge of high costs for three years. The competitiveness of many of our sectors is weakening. Exporting is losing its appeal. The number of companies exporting for the first time is declining. We are unable to extend exports across all sectors and broaden their base. Our share of global exports is falling. Our industry has been losing strength for three years. The risk of premature deindustrialisation is growing.
Production is the driving force of the economy and an expression of our determination to build the future on solid foundations. Therefore, the weakening of our industry and the increasing visibility of the risk of premature deindustrialisation should serve as a warning to us all. Today, one of the most fundamental challenges facing our exporters is the inability to achieve competitive pricing. The widening gap between exchange-rate movements and inflation, high interest rates and rising financing costs are constraining the room for manoeuvre available to our companies. Raising the daily limit for rediscount credits to TRY 5 billion was an extremely valuable step. I once again extend my gratitude to our esteemed President. We also welcome the Central Bank's decision to extend the 3 per cent foreign-exchange conversion support scheme for a further six months. Nevertheless, new measures and strategic game plans that will provide exporters with greater breathing room must be implemented swiftly.
The challenges are not confined solely to domestic costs. The wave of protectionism in global trade is gaining momentum, tariff barriers are rising and free trade is coming under increasing pressure with each passing day. In such an environment, preserving Türkiye's competitiveness and ensuring that the growth rate of exports remains above that of imports are critically important for reducing the current account deficit and enhancing prosperity.
Despite all these conditions, we continue to produce, export and seek new markets for our companies. In July, we organised two trade delegations, participated in 17 fairs and carried out one Ur-Ge activity. In August, we will organise delegations to Brazil, Poland and Syria. We know that the more actively we engage in the field, reach new markets and transform our production strength into exports, the more confidently we will advance towards our objectives.