According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in August this year Turkey’s foreign trade deficit decreased by 23.1 percent to $8.66 billion compared to August 2022. In the January-August period this year, Turkey’s foreign trade deficit rose by 11.9 percent year on year to $82.3 billion.
In August, Turkey’s iron and steel exports ranked eighth among the country’s products with the highest export value, totaling $856.17 million, decreasing by 29.7 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, went down by 8.9 percent year on year, amounting to $824.13 million.
In the first eight months of this year, Turkey’s iron and steel export value was down by 47.4 percent to $5.77 billion, while the value of its exports of articles of iron or steel fell by 6.2 percent to $6.54 billion, both year on year.