According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in October this year Turkey's foreign trade deficit increased by 13.2 percent to $4.16 billion compared to October 2015. In the first ten months of this year, Turkey's foreign trade deficit declined by 12.5 percent year on year to $46.24 billion.
In October, Turkey's iron and steel exports ranked sixth among the country's products with the highest export value, totaling $537.32 million, increasing by 11 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 7.7 percent year on year, amounting to $438.09 million.
In the January-October period of this year, Turkey's iron and steel export value decreased by 11.7 percent to $4.98 billion, while the value of its exports of articles of iron or steel declined by 10.5 percent to $4.1 billion, both year on year.