Foreign trade deficit decreased in December

According to provisional foreign trade data produced in cooperation with the Turkish Statistical Institute and the Ministry of Trade under the general trade system, exports in December 2023 increased by 0.4% compared to the same month of the previous year, reaching 23 billion dollars, while imports decreased by 11.0% to 29 billion 39 million dollars.

EXPORTS INCREASED, IMPORTS DECREASED

According to the general trade system, exports in the January-December 2023 period increased by 0.6% compared to the same period of the previous year, reaching 255 billion 777 million dollars, while imports decreased by 0.5% to 361 billion 774 million dollars.

FOREIGN TRADE DEFICIT DECREASED

In December, the foreign trade deficit decreased by 37.8% compared to the same month of the previous year, falling from 9 billion 713 million dollars to 6 billion 39 million dollars. The export-to-import coverage ratio rose from 70.2% in December 2022 to 79.2% in December 2023.

FOREIGN TRADE DEFICIT IN THE JANUARY-DECEMBER PERIOD

In the January-December period, the foreign trade deficit decreased by 3.2%, falling from 109 billion 541 million dollars to 105 billion 997 million dollars. The export-to-import coverage ratio rose from 69.9% in the January-December 2022 period to 70.7% in the same period of 2023.

News Source: 12punto