Surging energy prices and high gold demand pushed Turkiye’s imports up 21% year-on-year in January, says trade minister
Turkiye’s exports posted an all-time high January figure at $19.4 billion, the country’s trade minister said on Thursday.
Outbound shipments rose 10.4% from the same month of last year, Mehmet Mus told a news conference on Turkiye’s preliminary foreign trade data.
Due to surging energy and commodity prices,Turkish imports jumped 21% year-on-year to $33.7 billion in January, including more than one-quarter of this figure in energy, Mus said.
Turkiye’s energy imports amounted to $8.8 billion in January, leaping 238% from a year earlier.
Mus underlined that high gold demand also made a significant contribution to Turkiye’s total imports, as the country paid $5.1 billion for the precious metal.
The country’s foreign trade deficit reached to $14.3 billion in January.