We Must Interpret the Growth Data Correctly

We have completed the first five months of 2025, which we embarked upon with an export target of 280 billion dollars. In May, we achieved the highest monthly export value of all time with 24.8 billion dollars. In the first five months of 2025, our exports reached 111 billion dollars, while our twelve-month exports from May to May rose to 265.5 billion dollars. We are up by 3.5% in the five-month export figure and 1.9% in the twelve-month total.

Last month, twelve of our sectors increased their exports. Our automotive, electrical-electronics, and ship-yacht sectors reached the highest export values in their history. However, regrettably, fourteen sectors recorded negative figures. It is unusual for more than half of our sectors to remain in decline during a month in which we achieved the highest monthly export value of all time. This message must be interpreted with due seriousness.

Indeed, the first-quarter growth data also indicate that things are not proceeding well on the production and export fronts. The 2% growth recorded in the first quarter is predominantly consumption-driven. Consumption contributed 1.56 points to growth during the January–March period, while net exports stood at minus 0.56 points. This outcome signals that we are drifting away from a production- and export-oriented growth model.

In the first quarter, industry contracted by 1.8% and agriculture by 2%. We must never lose sight of this truth: while growth through consumption is possible, sustainable development can only be achieved through production and exports. We are well aware that growth based solely on domestic consumption is not sustainable. Therefore, for enduring prosperity and robust development, it is of vital importance that exports make a positive contribution to growth. To render growth more balanced and sustainable, we must take steps to enhance our competitive strength. I firmly believe that if we can reclaim our competitiveness, exports will once again become the locomotive of growth.

In this context, we attach great importance to the New Investment Incentive System, the enhancement of financing and employment supports, and the prioritization of strategic and high value-added investments. Interest and profit share support for investment loans, cash incentives for machinery purchases, tax reductions, and Social Security Institution supports will bolster our production capacity. We consider support for digital and green transformation investments, the earthquake-affected regions, and attraction centers to be of paramount importance. Every step taken and every decision made to strengthen our competitiveness will further boost our motivation.

Of course, we do not expect everything from the state. Together with our exporters' associations, we closely monitor developments in the markets. We are conducting numerous projects to transform the twin transition into an opportunity for our country. We continue our delegation programs at full pace to diversify our markets and find new customers. In May, we organized trade delegations to Albania, Tunisia, the United States, South Africa, Iraq, and Spain. This month, our trade delegations will be in Mozambique and Uzbekistan.

While once again inviting our companies to participate in these delegation programs, I extend my heartfelt wishes for a blessed Eid al-Adha to our great export family, and convey my warmest regards with the hope that you may enjoy many more joyful holidays to come.