Türkiye’s foreign trade deficit narrows month-on-month in August

Türkiye’s foreign trade deficit stood at $5.24 billion in August, down from $7.3 billion in July, official figures showed on Wednesday.

In additional, the deficit expanded 22.3% year-on-year in August, according to data released by the Turkish Statistical Institute (TurkStat).

The country’s imports totaled $28.71 billion, while exports amounted to $23.47 billion.

The export-to-import coverage ratio was at 81.7% in August.

In the January-August period, the trade gap was at $65.79 billion.

During the eight-month period, exports totaled $185 billion, while imports amounted to $250.79 billion.

The export coverage ratio for the January-August period stood at 73.8%.