Türkiye’s exports hits record level, foreign trade gap narrows 57% in January

ISTANBUL

Türkiye’s exports hit a record level for the month of January with $20.03 billion, increasing by 3.6% on a yearly basis, the Turkish trade minister announced on Friday.

Imports of the country dropped by 22% in January versus the same month last year to $26.2 billion, Omer Bolat announced in a news conference in Istanbul.

The country’s foreign trade gap narrowed by 57% in January year-on-year, he said.

The export-import coverage ratio improved by 18.9 percentage points to 76.4% in the first month of 2024, the minister stressed.