Türkiye’s e-exports nearly doubled between January and August, a senior official said Wednesday, with the government seeking to foster a more diversified trade environment.
E-exports reached $4.16 billion in the first eight months, a 94% increase compared to a year ago, Trade Minister Ömer Bolat told an event in Istanbul. The sharp rise brings e-exports to 2.7% of Türkiye’s total outbound shipments, a figure Bolat says the government aims to boost to 10% by 2028.
The minister emphasized the transformative power of digital trade, describing it as “not just a technological innovation but also an economic transformation.”
“E-commerce has become not only a part of trade but also one of its primary objectives,” Bolat stated. “It transcends the boundaries of traditional trade, enables global reach and provides new opportunities for businesses of all sizes. Today, it stands as the strongest representative of the digitalization journey of trade.”
Global e-commerce, Bolat noted, has evolved into a “universal bridge” that connects economies, enhances international cooperation and promotes prosperity.
He pointed out that online marketplaces have democratized access to products for consumers and opened global markets for small businesses.
Online shopping has enjoyed a meteoric run since the coronavirus pandemic drove a shift that saw consumers preferring the safety and convenience of home deliveries.
Since 2019, global e-commerce volume has expanded by 75%, reaching $5.8 trillion in 2023. By the end of 2024, it is projected to grow another 8%, pushing the total to $6.3 trillion.
Türkiye’s own e-commerce landscape mirrors global trends but with even more rapid growth.
In 2023, the share of e-commerce in Türkiye’s gross domestic product (GDP) climbed to 6.8%, a 33.3% increase from the previous year. From 2019 to 2023, Türkiye’s E-GDP saw a compound annual growth rate (CAGR) of 26%, significantly outpacing the general economy.
Bolat noted that Türkiye’s e-exports have similarly expanded, rising from $2.17 billion in 2022 to over $5 billion in 2023 – a 131% increase. The share of e-exports in total shipments jumped from 0.91% to 2.1% within a year.
“By the end of 2024, we anticipate e-exports to exceed $8 billion, pushing their share of total exports above 3%,” said the minister. “By 2028, we are determined to raise this figure to 10%,” he declared.
