Record Monthly Export Value Achieved in May
Automotive, breaking the monthly export record, maintained its sectoral leadership with 3.9 billion dollars. Chemicals followed in second place with 2.8 billion dollars, while electrical-electronics ranked third with 1.7 billion dollars.
Türkiye Exporters Assembly Chairman Mustafa Gültepe: "In May, twelve of our sectors increased their exports. Our automotive, electrical-electronics, and ship-yacht sectors reached their highest export values to date. However, fourteen sectors unfortunately recorded negative figures. It is not a pattern we are accustomed to seeing that, in a month when we achieved the highest monthly export value of all time, more than half of our sectors remained in decline. We must interpret this message carefully."
In May, Türkiye achieved the highest monthly export value in its history with 24.8 billion dollars. In 2025, exports for the first five months rose to 111 billion dollars, while the twelve-month export total reached 265.5 billion dollars.
The May export data were announced in Ankara by Minister of Trade Prof. Dr. Ömer Bolat and Türkiye Exporters Assembly (TİM) Chairman Mustafa Gültepe.
TİM Chairman Mustafa Gültepe reminded that they began 2025 with an export target of 280 billion dollars. Emphasizing that, despite reaching the highest monthly export value ever in May, they remain behind the target, Gültepe continued as follows:
“According to the General Trade System (GTS) records, we achieved the highest monthly export in history in May with 24.8 billion dollars. Compared to the same month of last year, this represents an increase of 2.7%. During the January–May period, our five-month export total reached 111 billion dollars, while our twelve-month export total amounted to 265.5 billion dollars. We are up by 3.5% in five-month exports and 1.9% in twelve-month exports. We estimate that our service exports for May will be around nine billion dollars. When we examine the data by sector, automotive continued to lead with 3.9 billion dollars, followed by chemicals with 2.8 billion dollars, electrical-electronics with 1.7 billion dollars, apparel with 1.52 billion dollars, and steel with 1.5 billion dollars. In total, twelve of our sectors increased their exports. Our automotive, electrical-electronics, and ship-yacht sectors reached the highest export values ever recorded. However, fourteen of our sectors, regrettably, recorded declines. It is not usual for more than half of our sectors to remain in the red in a month when we achieved an all-time high in monthly exports. This message requires careful interpretation. Our top five exporting provinces were İstanbul, Kocaeli, Bursa, Ankara, and İzmir. In May, 1,119 companies exported for the first time. Last month, exchange rate parity contributed 487 million dollars to our export figures. Our top export destinations were Germany, the United States, the United Kingdom, Italy, and Iraq. We recorded increases of over 50% in 49 countries and over 10% in 96 countries. In total, we increased our exports to 124 countries.”
“We Are Moving Away from a Production and Export-Oriented Growth Model”
Commenting on recent developments, Mustafa Gültepe recalled that the first-quarter growth figures for 2025 were announced last week. Stressing that consumption was the main driver behind the 2% growth recorded in the first quarter, Gültepe continued:
“Consumption contributed 1.56 points to growth, while net exports remained at minus 0.56 points. In other words, we could not contribute to growth. This outcome signals that we are moving 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 forget this truth: we may achieve growth through consumption, but sustainable development can only be realized through production and exports. We know that growth based solely on domestic consumption is not sustainable. Therefore, for enduring prosperity and strong development, it is critically important that exports contribute positively to growth. However, the role of exports within growth is increasingly diminishing. To ensure more balanced and sustainable growth, we must take steps that will enhance our competitiveness. I firmly believe that, if we can reclaim our competitiveness, exports will once again become the engine of growth.”
“Every Step That Strengthens Our Competitiveness Boosts Our Motivation”
Evaluating the New Investment Incentive System published last week, Mustafa Gültepe concluded his remarks as follows:
“We attach importance to the enhancement of financing and employment support in the new system and to the prioritization of strategic and high value-added investments. Interest and profit share support for investment loans, cash incentives for machinery acquisitions, tax reductions, and Social Security Institution supports will increase our production capacity. We consider targeted support for digital and green transformation investments, for earthquake-stricken regions, and for designated attraction centers to be extremely significant. Every step taken and every decision made to strengthen our competitiveness will further boost our motivation. Naturally, we do not expect everything from the state. Together with our exporters' associations, we are closely following market developments. We are executing numerous projects to transform the twin transition into an opportunity for our country. We are continuing our delegation programs at full pace to increase market diversity and discover new customers. In May, we organized trade delegations to Albania, Tunisia, the United States, South Africa, Iraq, and Spain. This month, we will carry out trade delegations in Mozambique and Uzbekistan. I once again invite our companies to take part in these delegation programs.”