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Turkish exports hit record high USD22.1B last month, trade deficit reaches 34-month low
(MENAFN) On Monday, Turkish Trade Minister Ömer Bolat announced that Türkiye achieved a record-breaking level of exports in August, reaching USD22.1 billion. This represents a 2.4 percent increase compared to the same month last year. The significant rise in exports highlights Türkiye's strong international trade performance and growing competitiveness in the global market.
In addition to the record exports, Türkiye also saw a notable improvement in its foreign trade deficit, which fell to USD4.9 billion in August. This figure is the lowest recorded in 34 months and marks a substantial 43.4 percent decrease year-on-year. The reduced deficit underscores a significant enhancement in Türkiye's trade balance, reflecting the effectiveness of recent trade policies.
The figures released by the Trade Ministry reveal that Türkiye's imports in August decreased by 10.8 percent, totaling USD26.99 billion. Over the past 12 months, Türkiye's rolling exports amounted to USD261.97 billion, up 3.5 percent from the previous year, while imports fell by 8.4 percent to USD340.6 billion. This reduction in imports further contributed to the narrowing of the trade deficit.
For the January to August period, Türkiye's exports totaled USD170.8 billion, marking a 3.9 percent increase compared to the same period last year. Meanwhile, imports for the same period amounted to USD225.66 billion, showing an 8.7 percent decrease. Minister Bolat highlighted these positive trends in the trade figures, particularly the substantial reduction in the trade deficit, as key achievements in stabilizing and strengthening Türkiye's economy.
In addition to the record exports, Türkiye also saw a notable improvement in its foreign trade deficit, which fell to USD4.9 billion in August. This figure is the lowest recorded in 34 months and marks a substantial 43.4 percent decrease year-on-year. The reduced deficit underscores a significant enhancement in Türkiye's trade balance, reflecting the effectiveness of recent trade policies.
The figures released by the Trade Ministry reveal that Türkiye's imports in August decreased by 10.8 percent, totaling USD26.99 billion. Over the past 12 months, Türkiye's rolling exports amounted to USD261.97 billion, up 3.5 percent from the previous year, while imports fell by 8.4 percent to USD340.6 billion. This reduction in imports further contributed to the narrowing of the trade deficit.
For the January to August period, Türkiye's exports totaled USD170.8 billion, marking a 3.9 percent increase compared to the same period last year. Meanwhile, imports for the same period amounted to USD225.66 billion, showing an 8.7 percent decrease. Minister Bolat highlighted these positive trends in the trade figures, particularly the substantial reduction in the trade deficit, as key achievements in stabilizing and strengthening Türkiye's economy.
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