During the Istanbul Ready-to-Wear and Fashion Fair (Istanbul Fashion Connection-IFCO), Trade Minister Ömer Bolat revealed that Turkey stands seventh globally and third in Europe for ready-to-wear exports.
“With $20.6 billion (TL 630.35 billion) in ready-to-wear clothing exports and $12.3 billion in textile exports, our total exports surpassed $30 billion last year,” he stated at the event.
Organized by the Istanbul Apparel Exporters’ Association (IHKIB) in collaboration with the Istanbul Chamber of Commerce (ITO) and supported by the Ministry of Trade, the IFCO commenced on Wednesday and runs until Saturday.
Bolat, addressing attendees at the Istanbul Expo Center, highlighted Turkey’s emergence as a “fashion center” and its pivotal role in various sectors including production, supply, logistics, trade, and energy.
Despite global challenges, Turkey’s economy grew by 4% in the first nine months of the previous year, reaching a national income of $1.07 trillion. Bolat emphasized the importance of exports in achieving this milestone, with total exports reaching $256 billion despite global declines.
The minister underscored Turkey’s garment sector’s significant contribution, accounting for 13%-14% of the nation’s total exports. He highlighted key advantages including proximity to markets, diverse product range, prominence as a cotton producer, and efficient product delivery.
Bolat outlined ambitious export targets for the current year, aiming for $267 billion in goods and $110 billion in services. He noted the resilience of Turkey’s ready-to-wear and textile sectors, expecting increased orders in the second half of the year.
Despite a 15% drop in imports from key EU countries, Turkey managed to boost exports to its top trading partner. Bolat expressed optimism, aiming to increase Turkey’s share of global merchandise exports from 1.06% to 1.30% by 2028.
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