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 increased by 6.5 percent to $7.28 billion compared to July 2014. In the first seven months of this year, Turkey's foreign trade deficit decreased by 13 percent year on year to $40.3 billion.
In July, Turkey's iron and steel exports ranked fifth among the country's products with the highest export value, totaling $564.71 million, decreasing by 21.2 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, fell by 13.2 percent year on year, amounting to $440.74 million.
In the first seven months of this year, Turkey's iron and steel export value decreased by 27.2 percent to $4.14 billion, while the value of its exports of articles of iron or steel declined by 12.7 percent to $3.26 million, both year on year.