According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in November this year Turkey’s foreign trade deficit increased by 24.9 percent to $7.46 billion compared to November 2023. In the January-November period this year, Turkey’s foreign trade deficit went down by 26.8 percent year on year to $73.34 billion.
In November, Turkey’s iron and steel exports ranked ninth among the country’s products with the highest export value, totaling $728.06 million, up by 11.6 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, went down by 6.3 percent year on year, amounting to $826.04 million.
In the first eleven months this year, Turkey’s iron and steel export value was up by 15.4 percent to $9.26 billion, while the value of its exports of articles of iron or steel decreased by 2.1 percent to $8.95 billion, both year on year.