According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in July this year Turkey's foreign trade deficit decreased by 32.5 percent to $4.78 billion compared to July 2015. In the first seven months of this year, Turkey's foreign trade deficit declined by 18.9 percent year on year to $32.79 billion.
In July, Turkey's iron and steel exports ranked sixth among the country's products with the highest export value, totaling $472.09 million, decreasing by 15.1 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked ninth among the products with the highest export value, fell by 26.7 percent year on year, amounting to $320.31 million.
In the January-July period of this year, Turkey's iron and steel export value decreased by 18.2 percent to $3.37 billion, while the value of its exports of articles of iron or steel declined by 13.1 percent to $2.83 billion, both year on year.