Foreign trade deficit was 6.8 billion dollars in February

According to the provisional foreign trade data produced within the scope of the general trade system in cooperation with the Turkish Statistical Institute and the Ministry of Trade; exports increased by 13.6 percent in February 2024 compared to the same month of the previous year, reaching 21 billion 82 million dollars, while imports decreased by 9.2 percent to 27 billion 853 million dollars.

In February, the foreign trade deficit decreased by 44.2 percent compared to the same month of the previous year, falling from 12 billion 130 million dollars to 6 billion 771 million dollars. The export-to-import coverage ratio rose from 60.5 percent in February 2023 to 75.7 percent in February 2024.

According to the general trade system, exports in the January-February 2024 period increased by 8.5 percent compared to the same period of the previous year, reaching 41 billion 78 million dollars, while imports decreased by 16.0 percent to 54 billion 33 million dollars.

INCREASE IN ENERGY AND GOLD EXPORTS

Exports, excluding energy products and non-monetary gold, increased by 12.3 percent in February 2024, rising from 17 billion 438 million dollars to 19 billion 589 million dollars.

In February, imports, excluding energy products and non-monetary gold, increased by 5.2 percent, rising from 19 billion 958 million dollars to 20 billion 989 million dollars.

The foreign trade deficit, excluding energy products and non-monetary gold, was 1 billion 400 million dollars in February. The foreign trade volume increased by 8.5 percent to 40 billion 578 million dollars. In the month in question, the export-to-import coverage ratio, excluding energy and gold, was 93.3 percent.

News Source: 12punto