Türkiye Sees Double-Digit Growth in Service Exports

Türkiye's exports in services climbed to $117.2 billion in 2024, reflecting an 11% increase from $105.5 billion in 2023, according to data released by the Turkish Statistical Institute (TurkStat).

Meanwhile, the country's imports in services also saw a rise, growing from $49.9 billion in 2023 to $55.8 billion in 2024, The Caspian Post reports, citing Anadolu.

Travel services made up 48% of the services exports last year versus 47.4% the previous year, reaching $56.2 billion.

The “other business services” sector had a 5.9% share in service exports last year.

Transportation services-second to travel services in size-increased 7% to $40.9 billion last year.

Telecommunications, computer, and information services exports soared 37.8% to $5.3 billion.

In service imports, transportation imports ranked first with a share of 38.3%, up from 36.8% the previous year, while the “other business services” made up 16.4% of the total versus 16% in 2023.

Travel services imports had a 13.2% share, according to TurkStat.

EU countries’ Turkish service exports, excluding travel services, reached $27.7 billion, while non-EU European countries bought Turkish services worth $8.4 billion.

Türkiye imported EU-origin services totaling $20.5 billion, while non-EU service imports to the country reached $5.06 billion.

EU countries were the largest group of countries in Türkiye’s service exports and imports, excluding travel, accounting for 35.8% of the total service exports and 42.3% of the total service imports.

Germany, the US, and the UK made up 30.2% of total services exports except for travel services last year. Germany had a 12.3% share of service exports with $7.4 billion, while the US accounted for 11.8% and the UK 6.1%.

As for service imports, Ireland ranked first last year with a 9.1% share and $4.3 billion, followed by the US with 7.8% and $3.78 billion, and Germany with 7.8% and $3.75 billion.