Türkiye's services exports total $56.5 billion in 2023

ANKARA

Türkiye's services exports totaled $56.5 billion last year, up 19.2 percent from $47.4 billion in 2022, data from the Turkish Statistical Institute (TÜİK) showed on Sept. 17.

Meanwhile, service imports amounted to $41.4 billion, up 15.3 percent from $35.8 billion in 2022, TÜİK said.

Consequently, the services trade posted a surplus of $15.1 billion last year, up from a surplus of $11.5 billion in 2022.

The share of transport in total services exports, which was 74.2 percent percent in 2022, fell to 68.9 percent in 2023. Exports in transport totaled $38.93 billion in 2023.

The "other business services" ranked second with a share of 9.8 percent, or $5.5 billion, in 2023, followed by the telecommunication, computer and information services with a share of 7.5 percent, or $4.25 billion.

The share of insurance and pension services was 4.9 percent or $2.75 billion, while financial services’ share was 1.1 percent or $620 million.

In 2023, 29.3 percent of total exports were performed with Germany, the U.S. and the U.K.

Germany took the first place for services exports with $6.98 billion with a share of 12.4 percent, the U.S. followed with 10.1 percent and the U.K. ranked third with 6.8 percent.

Services exports to the European Union in 2023 were $21.86 billion, while exports to other European countries were $8.6 billion.

Imports from the European Union amounted to $18.7 billion and from other European countries stood at $4.9 billion in 2023.