Türkiye's services exports reached $56.5 billion in 2023, marking a 19.2% increase from $47.4 billion in 2022, according to a statement from the Turkish Statistical Institute on Tuesday.

Services imports also grew by 15.3% to $41.4 billion, up from $35.9 billion the previous year.

Transport services continued to dominate Türkiye's services exports, accounting for 68.9% of the total, with exports rising to $38.93 billion from $35.17 billion in 2022. "Other business services" held a 9.8% share, up from 8.4% in 2022, while "telecommunication, computer, and information services" contributed 7.5% of the total exports.

In terms of imports, transport services represented 44.7% of the total, down from 47.3% in 2022. "Other business services" made up 19.0% of imports, slightly up from 18.9% in the previous year, while "telecommunication, computer, and information services" accounted for 10.3% of total imports.

The European Union was the leading region for Türkiye’s services trade. Services exports to the EU totaled $21.86 billion in 2023, while imports from the EU amounted to $18.65 billion. The EU's share of Türkiye’s services exports was 38.7%, and it also led in services imports with a 45.0% share.

Germany was Türkiye's top destination for services exports, receiving $6.99 billion, which represents 12.4% of total exports. The USA followed with 10.1% of exports, and the United Kingdom came third with 6.8%. For imports, Ireland was the leading source, with a 8.7% share and $3.59 billion. The USA and Germany ranked second and third, respectively.

This growth in services trade reflects a broader expansion in Türkiye's economic engagements globally, with the European Union continuing to play a central role in Türkiye’s international trade dynamics. (ILKHA)