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 34.4 percent to $2.37 billion compared to October 2019. In the January-October period of the current year, Turkey’s foreign trade deficit rose by 76.2 percent year on year to $40.27 billion.
In October, Turkey’s iron and steel exports ranked sixth among the country’s products with the highest export value, totaling $821.70 million, decreasing by one 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 3.9 percent year on year, amounting to $581.07 million.
In the first 10 months of the year, Turkey’s iron and steel export value was down by 19.2 percent to $6.97 billion, while the value of its exports of articles of iron or steel decreased by 6.6 percent to $5.13 billion, both year on year.