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 15.8 percent to $4.21 billion compared to August 2024. In the first eight months of this year, Turkey’s foreign trade deficit went up by 9.7 percent year on year to $60.14 billion.
In August, Turkey’s iron and steel exports ranked seventh among the country’s products with the highest export value, totaling $892.18 million, up by 0.9 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, fell by three percent year on year, amounting to $814.43 million.
In the January-August period of this year, Turkey’s iron and steel export value was up by 5.2 percent to $7.19 billion, while the value of its exports of articles of iron or steel dropped by 2.2 percent to $6.30 billion, both year on year.