According to temporary foreign trade statistics compiled by the Turkish Statistical Institute and the Ministry of Trade, Turkey’s total imports in January decreased by 22%, amounting to $26,218,363,000 compared to the same month last year.
A notable portion of this figure, $6,534,699,000, is attributed to energy imports, specifically categorized as “mineral fuels, mineral oils and products obtained from their distillation, bituminous substances, mineral waxes.”
In January 2023, this amount was recorded at $8,794,088,000, indicating a significant annual decrease of 25.7% in the energy import bill.
During this period, crude oil imports increased by 7.3%, reaching a total of 2,420,115 tons. The decrease in the overall energy import bill is seen as a positive development, contributing to the country’s efforts to manage trade balances and reduce external dependency in the energy sector.
source: aa.com.tr/ prepared by Melisa Beğiç