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 39.8 percent to $4.88 billion compared to August 2014. In the first eight months of this year, Turkey's foreign trade deficit decreased by 16.9 percent year on year to $45.24 billion.
In August, Turkey's iron and steel exports ranked seventh among the country's products with the highest export value, totaling $535.1 million, decreasing by 21.5 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 2.1 percent year on year, amounting to $444.3 million.
In the first eight months of this year, Turkey's iron and steel export value decreased by 26.7 percent to $4.67 billion, while the value of its exports of articles of iron or steel declined by 11.6 percent to $3.7 billion, both year on year.