TÜİK announced: Foreign trade deficit decreased in January

According to provisional foreign trade data produced in cooperation with the Turkish Statistical Institute and the Ministry of Trade within the scope of the general trade system, exports increased by 3.5% in January 2024 compared to the same month of the previous year, reaching 19 billion 991 million dollars, while imports decreased by 22.0% to 26 billion 218 million dollars.

EXPORTS INCREASED, IMPORTS DECREASED

Exports, excluding energy products and non-monetary gold, increased by 3.0% in January 2024, rising from 18 billion 44 million dollars to 18 billion 592 million dollars.

In January, imports excluding energy products and non-monetary gold decreased by 6.2%, falling from 19 billion 886 million dollars to 18 billion 660 million dollars.

The foreign trade deficit, excluding energy products and non-monetary gold, was 68 million dollars in January. The foreign trade volume decreased by 1.8% to 37 billion 251 million dollars. In the same month, the ratio of exports to imports, excluding energy and gold, was 99.6%.

FOREIGN TRADE DEFICIT DECREASED IN JANUARY

In January, the foreign trade deficit decreased by 56.4% compared to the same month of the previous year, falling from 14 billion 290 million dollars to 6 billion 227 million dollars. The export-to-import coverage ratio rose from 57.5% in January 2023 to 76.2% in January 2024.