ANKARA — Türkiye’s energy import bill rose 43.4% year-on-year in May, driven by higher global oil and natural gas prices as well as increased import volumes, according to data released by the country’s energy authorities.

The value of energy imports, excluding crude oil and petroleum products, climbed significantly compared with the same month last year, reflecting the continued impact of elevated international energy prices on Türkiye’s import costs. The country remains heavily dependent on imported energy to meet domestic demand, making its trade balance particularly sensitive to fluctuations in global commodity markets.

Crude oil and petroleum products continued to account for the largest share of Türkiye’s energy imports during the month, while natural gas remained another major contributor to the overall import bill. Rising energy costs have also increased pressure on the country’s current account balance and inflation outlook.

Despite the sharp increase in import costs, Türkiye has continued to expand investments in domestic energy production and renewable energy capacity while pursuing new oil and natural gas exploration projects aimed at reducing its reliance on imported energy over the longer term.

Source: Patronlar Dünyası/ Prepared by: İlayda Gök