Minister Bolat: Turkey has reached the position of the world's 11th largest economy

Minister of Commerce Ömer Bolat, in his speech at the closing program of the 76th World Foundry Congress, stated that he was very pleased to see a professional organization flow with a beautiful world brotherhood, solidarity and meeting discipline from the moment he attended the meeting, and said, "I would like to convey to you the greetings and good wishes of our esteemed President, Mr. "I congratulate you on your anniversary. I hope we will be able to reach the 75th year and the 100th year." he said.

Drawing attention to the importance of foundry, which is one of the oldest sectors in human history, Bolat said, "The foundry industry, which provides the basic inputs of many strategic sectors from the automotive to the defense industry, from white goods to aviation, from energy to machinery manufacturing and rail systems, is one of the critical areas that determine the production capability and industrial independence of the countries." he said.

Stating that the production capacity in Türkiye's foundry industry is 3 million tons, Bolat said, "Our total production was 2 million 300 thousand tons in 2025. The value of this production is around 8 billion euros, and our export of 1 million 640 thousand tons reaches the export figure of 6.1 billion euros. In other words, 71 percent of the total production is exported on quantity basis, and 76 percent on value basis is exported." "With its production capacity of 3 million tons, Türkiye ranks 7th in the world and 2nd in Europe in the casting industry." he said.

"Our foundry industry reflects our country's production power to the world with its export network reaching more than 200 countries and regions." said Bolat, emphasizing that these achievements of the casting industry are of great value in this difficult period that the world is going through.

Pointing out that the world crises that have occurred in recent years have also affected world trade, Bolat said, "In such a period, the fact that Türkiye, which is at the crossroads of Europe, Asia, the Middle East and Africa, is located at the very center for trade routes, energy and transportation corridors, is a central base in terms of logistics base and supply chain, and is the strongest manufacturing industry country after China in the geography starting from China to Morocco, has had very important, complementary and positive effects in terms of supply chain problems and logistics disconnections in the west." he said.

Stating that Türkiye has become the 11th largest economy in the world according to purchasing power parity, Bolat said that in 2003, Türkiye was the 18th largest economy in the world.

Bolat also said that on the basis of current exchange rates, while Türkiye was the 21st largest economy in the world in 2003, it rose to the 16th largest economy in the world as of last year and reached an economic size of 1.7 trillion dollars.

Minister of Commerce Bolat continued his speech as follows:

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)