According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in December last year Turkey's foreign trade deficit decreased by 14.6 percent to $9.96 billion compared to December 2013, while the country's trade deficit for the whole year of 2014 decreased by 15.4 percent to 84.5 billion compared to 2013.
In December last year, Turkey's iron and steel exports ranked fourth among the country's products with the highest export value, totaling $816.8 million, up by 34 percent from November and down 4.6 percent year on year. Meanwhile, in given month the value of exports of articles of iron or steel, which ranked seventh among the products with the highest export value, increased by 11.8 percent month on month and was up 9.9 percent year on year, amounting to $585.3 million.
Meanwhile, in 2014, the value of Turkey's iron and steel exports totaled $9.26 billion, while the value of its exports of articles of iron or steel amounted to $6.36 billion, decreasing by 6.6 percent and up 3.5 percent respectively, both compared to 2013.
Motor vehicles and parts was the domestic sector with the highest export value in 2014 with $18.07 billion, up 6.3 percent year on year.