Economy of Sudan

Türkiye's foreign trade deficit continued to decline in August, narrowing 43.4 percent year-on-year to $4.93 billion last month, according to the Trade Ministry on Sept. 2.

This marked the lowest level of foreign trade deficit in 34 months.

Imports rose and exports shrank during the first half of the year, expanding the trade deficit by 10.5%, the Hellenic Statistics Authority announced Wednesday.

Türkiye's exports increased by 13.8 percent in July from a year ago to $22.5 billion, hitting a historically high level for the month, while the foreign trade deficit shrank 42.3 percent to $7.24 billion.

Imports amounted to $29.75 billion, falling 7.9 percent from July 2023, data from the Trade Ministry showed on Aug. 2.

Türkiye's foreign trade balance posted a deficit of $6.44 billion in June, widening 21.4 percent from a year ago, the Trade Ministry has said.

Exports fell 10.6 percent year-on-year to $18.6 billion, while the annual decline in imports was 4.1 percent to $25 billion.

The export/import coverage ratio deteriorated from 79.7 percent in June 2023 to 74.3 percent last month.

Five cities accounted for 56.3 percent of Türkiye's overall exports in May, according to data from the Trade Ministry.

Exports by companies based in Istanbul, the country's financial and commercial center, increased by 14 percent year-on-year last month to $5.64 billion, which corresponded to 23.4 percent of Türkiye's export revenues.

The Turkish defense and aviation industry's exports surge 8.6 percent in the January-May period from a year ago to reach $2.21 billion.

The industry's share in the country's overall export revenues was 2.1 percent.

Defense and aviation exports amounted to $876 million in May alone, said Haluk Görgün, the head of the Defense Industries Presidency (SSB).

Türkiye's exports increased by 11.4 percent in May from a year earlier to $24.07 billion, according to data from the Trade Ministry.

Imports plunged more than 10 percent annually to $30.6 billion, leading to a foreign trade deficit of $6.5 billion, down 47.8 percent from May last year.

This marked a record high May figure, said Trade Minister Ömer Bolat.

Türkiye's foreign trade deficit came in at $9.9 billion in April, pointing to a 13.3 percent increase from a year ago, preliminary numbers of the Trade Ministry showed on May 3.

The foreign trade gap shrank more than 12 percent year-on-year in March to $7.3 billion.

The foreign trade deficit declined by 44.2 percent in February from a year ago, data from the Turkish Statistical Institute (TÜİK) has shown.

The country's exports rose by 13.6 percent year-on-year to $21.08 billion, while imports plunged 9.2 percent to $27.85 billion, leading to a foreign trade deficit of $6.77 billion.

Türkiye's foreign trade deficit continued to decline in February, the preliminary data from the Trade Ministry have shown.

The country's foreign trade deficit declined by 42.3 percent last month to $7 billion, after shrinking more than 56 percent in January to $6.2 billion.