Türkiye secured the first spot in Europe in terms of agricultural revenue in 2023, while also ranking among the top 10 countries worldwide, a senior official announced on Monday.

"The hard work of our farmers continues to add value to our country's economy. According to Food and Agriculture Organization (FAO) and World Bank data, with an agricultural revenue of $68.5 billion in 2023, Türkiye ranked first in Europe and among the top ten countries in the world," Agriculture and Forestry Minister Ibrahim Yumaklı said in a post on X.

Türkiye’s agricultural revenues in 2023 also rose 16% year-over-year, he said.

"I sincerely congratulate all our sector stakeholders who contributed to this success,” he added.

The share of agriculture, forestry and fishing in Türkiye’s gross domestic product (GDP) was 6.2% in 2023, according to data from the Turkish Statistical Institute (TurkStat).

Agriculture is an important sector of the Turkish economy and the country is one of the top 10 agricultural producers in the world.

In the first quarter of 2024, the agriculture sector expanded 4.6% from the same period last year, accelerating from 0.5% in the previous quarter, while the Turkish economy grew 5.7% annually in the January-Mach period.

The total insured value of state-supported agricultural insurance increased by 115.5% in 2023 when compared to a year earlier to TL 638,3 billion ($19.5 billion), the data from TurkStat showed last week.

The total state support premium amount in the agricultural sector increased by 91.7% yearly to TL 9.24 billion, the data showed.

The exports from the sector also maintained an upward momentum, raising nearly 9% to $9.3 billion in the first quarter of the year, according to the data from the Turkish Exporters Assembly (TIM).

Source - www.dailysabah.com