According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in May this year Turkey's foreign trade deficit decreased by 6.1 percent to $6.75 billion compared to May 2014. In the first five months of this year, Turkey's foreign trade deficit declined by 15.2 percent year on year to $26.97 billion.
In May, Turkey's iron and steel exports ranked fifth among the country's products with the highest export value, totaling $520.26 million, down 18.3 percent from April and decreasing by 40.4 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, fell by 7.1 percent month on month and was down 24.9 percent year on year, amounting to $464.05 million.
In the first five months of this year, Turkey's iron and steel export value decreased by 27.6 percent to $3.05 billion, while the value of its exports of articles of iron or steel declined by 13.9 percent to $2.34 million, both year on year.