Turkish exports hit record high in 2022

Sales of Turkish exports hit a record high last year as the country also benefitted from closer economic ties to Russia, the Financial Times reports.

According to the report, Turkiye recorded a 13 per cent rise in exports by value, with sales hitting $254bn in 2022, said Recep Tayyip Erdogan, the country’s President, in a televised speech on Monday.

Last December, Turkiye’s inflation slowed sharply.

“We have closed the year 2022 by achieving consumer inflation even below the medium-term target,” Erdogan said during a speech in Ankara.

The Turkish government announced a 25 per cent rise in public sector wages and pensions.

READ: Turkiye’s energy outlook and achieving energy independence