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 42.7 percent to $4.99 billion compared to August 2023. In the January-August period this year, Turkey’s foreign trade deficit went down by 33.5 percent year on year to $54.94 billion.
In August, Turkey’s iron and steel exports ranked eighth among the country’s products with the highest export value, totaling $887.82 million, up by 5.4 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 up by 2.4 percent year on year, amounting to $842.67 million.
In the first eight months this year, Turkey’s iron and steel export value was up by 19.0 percent to $6.84 billion, while the value of its exports of articles of iron or steel decreased by 1.2 percent to $6.45 billion, both year on year.
