Türkiyes foreign trade deficit down over 56% to $6.3B in January

Published February 28,2024

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Türkiye’s international commerce deficit went down by 56.4% to $6.3 billion in January 2024, from $14.29 billion in the identical month final 12 months, official figures confirmed on Wednesday.

The Turkish Statistical Institute (TurkStat) revealed that the nation’s exports rose by 3.5% to $19.99 billion, whereas its imports dropped by 22% to $26.22 billion final 12 months.

The important vacation spot for Turkish exports was Germany with $1.76 billion, whereas Russia was the largest supply of imports with $4.32 billion.

The share of manufacturing industries merchandise in total exports was 93.6%.

Exports of high-tech merchandise in manufacturing industries have been up by 16% to $18.59 billion and that of medium-high-tech rose by 1.5% to $6.77 billion year-on-year in January.