Turkey: Exports Fall, Jewelry Industry Grows
President Erdogan to European Union: we want to develop relations with the goal of full accession
Turkey’s jewelry exports reached $861.62 million in February 2025, up 79.1% from $481.1 million in the same period last year. These data were released by the Assembly of Turkish Exporters. According to the report presented, total Turkish exports in the second month of 2025 amounted to 20.78 billion dollars, down 1.5% from February 2024. The jewelry industry’s share in Turkey’s total exports reached 4.1% in February this year. The three largest importers of Turkish jewelry were the United Arab Emirates ($411.7 million), the United States ($56.6 million), and Switzerland ($53.4 million).
Speaking about the economic situation in Turkey, TurkStat Statistical Institute reported that “the inflation rate in February was 39.05% year-on-year, down from January’s 42.1%.” Thus, Turkey’s annual inflation rate fell below the 40% mark for the first time since June 2023.
In recent months, Turkey has intensified contacts with the European Union, re-emphasizing its aspirations for full membership. As President Recep Tayyip Erdogan said at a press conference on Monday, March 10 after a cabinet meeting in Ankara, “we intend to develop our relations with the European Union based on common interests and mutual respect.” Erdogan also noted that the EU today “faces one of the most serious security challenges in recent times.” According to him, it is impossible to reach a sustainable peace agreement without the participation of Russia or Ukraine: “The peace process without their participation can never bring a permanent result,” the Turkish leader emphasized.
