Turkish President Recep Tayyip Erdoğan has highlighted Türkiye's economic performance, record export figures, growing tourism revenues and new energy discoveries, saying the country is continuing its development drive despite mounting regional instability.

Speaking at a press conference following Monday's Presidential Cabinet Meeting at the Presidential Complex in Ankara, Erdoğan said Türkiye was maintaining economic stability and confidence despite the conflicts and geopolitical tensions surrounding it.

"We uninterruptedly continue our development journey with stability and confidence despite the spiral of instability surrounding us," Erdoğan said.

He added that the latest export and tourism figures demonstrated Türkiye's growing economic strength, describing the country as a rising star amid regional tensions.

Türkiye achieves record export figures

Highlighting the country's trade performance, Erdoğan announced that Türkiye's exports increased by 8.1% year-on-year in October, reaching $25.9 billion, the highest monthly October figure in the country's history.

Exports during the January-October period rose 5.5% to $236.8 billion, setting another record, while annualized exports reached an all-time high of $285.6 billion.

He also pointed to strong growth in high-technology manufacturing, saying exports of medium-high and high-technology products increased by 8.8% to $118.6 billion.

Türkiye's defense and aerospace exports also recorded significant growth, rising 61% in October year-on-year to $1.14 billion. Annualized exports in the sector climbed 37% to $11.36 billion.

Erdoğan said the government remained committed to expanding production and exports, setting a target of increasing annual goods and services exports to $410 billion.

Tourism revenue exceeds $51 billion

Turning to tourism, Erdoğan said Türkiye welcomed 49.13 million visitors during the first nine months of 2026, generating $51.28 billion in tourism revenue.

Tourism income increased by 2.4% compared with the same period last year, setting records for both quarterly and nine-month earnings.

The average length of visitors' stays reached 10.34 nights, while average spending per visitor per night increased by 4.6% to $107.70.

To support the sector, Erdoğan announced that the accommodation tax reduction introduced in April would be extended for another year. Employment support provided to tourism facilities holding ministry operating certificates would also continue until 2028.

New oil discoveries strengthen energy security

Erdoğan also announced new oil discoveries in two fields in the Gabar region of southeastern Türkiye, identifying the Gaziler and Çardaklı fields as having an estimated combined potential of 135 million barrels of oil in place.

Daily oil production in Gabar has reached 84,000 barrels from 184 wells, with output expected to exceed 100,000 barrels per day in the second half of 2027 as the number of wells increases to approximately 230.

He said production of 120,000 barrels per day could generate around $4.4 billion in annual economic value at current prices.

The president further noted that natural gas extracted from the Black Sea currently meets the energy needs of 4 million households, with the government planning to double production capacity through the Osman Gazi floating production platform.

Erdoğan said Türkiye had managed to minimize the impact of international energy disruptions through diversified supply sources, domestic production and active energy diplomacy.

Erdoğan says ending terrorism will unlock economic potential

Addressing the government's "Terror-Free Türkiye" initiative, Erdoğan said eliminating terrorism would create significant economic opportunities, particularly for provinces in the country's east and southeast.

He argued that cities including Diyarbakır, Mardin, Van, Hakkari, Şırnak, Bitlis and Ağrı could attract greater investment and international tourism once the threat of terrorism was removed.

"When the shadow of terrorism is completely lifted, our cities that have suffered for years under the pressure of migration and insecurity will rise again," he said.

Erdoğan described the initiative as a strategic project extending beyond security concerns, stressing that its successful completion would contribute to peace, prosperity, national solidarity and economic development across Türkiye.

He also pointed to developments in Iraq, saying the integration of more than 4,000 members of an armed group into Iraqi security forces had begun the previous week, alongside progress in clearing militant hideouts.

Erdoğan addresses deadly Izmir factory explosion

At the beginning of his remarks, Erdoğan expressed condolences following a deadly explosion at an iron and steel factory in the Aliaga district of Izmir.

He said 16 workers had lost their lives and 13 others had been injured, including two in critical condition, according to the latest figures available at the time of his address.

The president said judicial and administrative investigations had been launched to establish the causes of the explosion and determine whether negligence or failures of responsibility had contributed to the disaster.

He extended condolences to the families of those killed and wished the injured a speedy recovery.

Erdoğan concluded by reaffirming his government's determination to maintain economic growth, strengthen domestic energy production and expand Türkiye's role in international trade and tourism despite the challenges posed by regional and global instability. (ILKHA)