According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in March this year Turkey’s foreign trade deficit increased by 0.9 percent to $8.34 billion compared to March 2022. In the January-March period this year, Turkey’s foreign trade deficit rose by 30.7 percent year on year to $34.69 billion.
In March, Turkey’s iron and steel exports ranked tenth among the country’s products with the highest export value, totaling $819.89 million, decreasing by 51.1 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked eighth among the products with the highest export value, dropped by 1.9 percent year on year, amounting to $954.77 million.
In the first three months of this year, Turkey’s iron and steel export value was down by 49.3 percent to $2.09 billion, while the value of its exports of articles of iron or steel fell by 0.8 percent to $2.50 billion, both year on year.