Exports fall 6.4% year-on-year to $18.6B, while imports rises 10.1% to $30.7B, official data shows
Turkiye’s trade deficit expanded by 51.4% from a year earlier to $12.1 billion in February, according to official data released on Friday.
The country’s exports fell 6.4% year-on-year to $18.6 billion in January, while imports increased 10.1% to $30.7 billion, the Turkish Statistical Institute (TurkStat) said.
The exports-to-imports coverage ratio decreased to 60.7% this February, versus 71.4% in Febraury 2022.
Excluding energy products and non-monetary gold, Turkiye saw a foreign trade deficit of $2.5 billion last month.
Turkiye’s largest outbound shipments were to Germany with a worth of $1.7 billion.
It was followed by Italy with $1.12 billion, the US $1.09 billion,Russia $1.01 billion, and the UK $851 million.
On the other side of the ledger, the largest amount of outbound shipments were made from Russia with $4.2 billion, followed by Switzerland $3.5 billion, China $3.1 billion, Germany $2.08 billion, and Italy $1.16 billion.
