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 93.8 percent to $456 million compared to October 2017. In the January-October period of this year, Turkey's foreign trade deficit fell by 15.7 percent year on year to $51.62 billion.
In October, Turkey's iron and steel exports ranked third among the country's products with the highest export value, totaling $1.14 billion, increasing by 70.4 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, increased by 23.5 percent year on year, amounting to $622.036 million.
In the January-October period of this year, Turkey's iron and steel export value increased by 40.4 percent to $9.22 billion, while the value of its exports of articles of iron or steel rose by 18 percent to $5.37 billion, both year on year.