Mustafa Gültepe, Chairman Of TİM: Türkiye Has Grown Through Investments That Will Turn Into Production And Exports

Mustafa Gültepe, Chairman of TİM, commented on the 2023 GDP data announced by TÜİK. He emphasized that a significant portion of the growth came from machinery and equipment investments, stating, "We consider these investments as harbingers of increased production and exports in the near future."

The Turkish Statistical Institute (TÜİK) announced the 2023 gross domestic product (GDP) figures to the public. According to TÜİK, the Turkish economy grew by 4.5% throughout 2023. The Turkish economy, which grew by 4% in the first quarter, 3.8% in the second quarter, and 6.1% in the third quarter of last year, recorded a growth of 4% in the fourth quarter. While goods and services exports decreased by 2.7% in 2023, imports increased by 11.7%. Exports and imports rose by 0.2% and 2.7%, respectively, in the fourth quarter of 2023 compared to the same quarter of the previous year in terms of chained volume index.

Mustafa Gültepe, in his evaluation of the GDP results, stated that Türkiye grew by 4.5% in 2023, as revised positively by international organizations throughout the year. Emphasizing the value of this stability in growth, Gültepe stated that they have a great goal, such as being among the top 10 economies in the world.

Expressing that their biggest goal as the Türkiye Exporters Assembly is to ensure that Türkiye is among the top 10 countries in the global export league, Gültepe made the following statements: 

“In 2023, we need to read the details of the growth figures carefully. A significant portion of the growth came from machinery and equipment investments. We consider these investments as harbingers of increased production and exports in the near future. 

On the other hand, there is a slight decline in the contribution of exports to growth. This situation also indicates a contraction in external demand and a loss of competitiveness. When we read these two figures together, we see that there is a high investment appetite among industrialists, but the decline in competitiveness is adversely affecting exports. The increase in these investments is partly due to the strong wind we have gained in competitiveness in previous years. Significant increases in global demand are expected in 2024. As the export family, we will continue to be the dynamo of production, investment, and employment in our country.”