Türkiye's foreign trade gap narrows
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Türkiye's foreign trade gap shrank 17.5 percent year-on-year in October to $6.5 billion, the country's statistical authority said on Nov. 29.
The country's exports last month totaled $22.8 billion with a 7.4 percent increase and imports $29.39 billion with a 0.6 percent increase compared with the same period of last year, Turkish Statistical Institute (TÜİK) data showed.
The foreign trade deficit, excluding energy products and non-monetary gold, was at $1.5 billion in October.
Foreign trade volume was $42.8 billion, with an 11.5 percent increase. Energy products and non-monetary gold excluded export coverage imports was 93.2 percent.
While Germany was the main destination for Turkish exports, China was the main source of imports during the month.
Türkiye exported $1.8 billion worth of goods to Germany in October. The country was followed by Iraq with $1.3 billion, the United States with $1.2 billion, the United Arab Emirates with $1.1 billion and Italy with $1.1 billion.
Medium-high and high-tech's share of overall exports in October rose from 37.8 percent to 39.7 percent year-on-year.
During the first 10 months of the year, the trade balance was at minus $93.9 billion, up 3.2 percent on a yearly basis.
Türkiye's exports during the same period amounted to $209.9 billion and imports $303.8 billion.
Exports coverage imports was 67.1 percent, while it was 68.7 percent in January-October 2022.
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