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 147.0 percent to $10.69 billion compared to July 2021. In the January-July period this year, Turkey’s foreign trade deficit rose by 143.7 percent year on year to $62.17 billion.
In July, Turkey’s iron and steel exports ranked fourth among the country’s products with the highest export value, totaling $1.11 billion, decreasing by 18.2 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, rose by 23.9 percent year on year, amounting to $762.7 million.
In the first seven months of this year, Turkey’s iron and steel export value was up by 18.3 percent to $9.75 billion, while the value of its exports of articles of iron or steel increased by 32.7 percent to $6.06 billion, both year on year.