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 decreased by 17.5 percent to $6.5 billion compared to October 2022. In the January-October period this year, Turkey’s foreign trade deficit rose by 3.2 percent year on year to $93.9 billion.
In October, Turkey’s iron and steel exports ranked eighth among the country’s products with the highest export value, totaling $827.8 million, decreasing by 5.6 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked seventh among the products with the highest export value, went down by 1.8 percent year on year, amounting to $817.4 million.
In the first ten months of this year, Turkey’s iron and steel export value was down by 43.4 percent to $7.4 billion, while the value of its exports of articles of iron or steel fell by 5.7 percent to $8.3 billion, both year on year.
