Trade minister highlights significant progress in reducing foreign trade deficit
Türkiye achieved a record-breaking level of exports for August, reaching $22.1 billion, a 2.4% increase compared to the same month last year, Omer Bolat, the Turkish trade minister announced on Monday.
The country’s foreign trade deficit also saw a significant reduction, dropping to $4.9 billion in August—the lowest level in 34 months. This marks a 43.4% decrease year-on-year, reflecting a substantial improvement in Türkiye’s trade balance.
According to figures from the Trade Ministry, Türkiye’s imports in August declined by 10.8%, totaling $26.99 billion. Over the last 12 months, Türkiye’s rolling exports reached $261.97 billion, a 3.5% increase from the previous year, while imports fell by 8.4% to $340.6 billion.
For the January-August period, Türkiye’s exports amounted to $170.8 billion, up 3.9% compared to the same period last year. Imports during this period totaled $225.66 billion,marking an 8.7% decrease.
Minister Bolat emphasized the positive trends in the nation’s trade figures, particularly the reduction in the trade deficit, as a key achievement in stabilizing the country’s economy.
Source: aa