Türkiye’s foreign trade gap narrows in October

ISTANBUL

Türkiye’s foreign trade gap shrank 17.5% year-on-year in October to $6.5 billion, the country’s statistical authority said on Wednesday.

The country’s exports last month totaled $22.8 billion and imports $29.39 billion, Turkish Statistical Institute (TurkStat) data showed.

The foreign trade deficit – excluding energy products and non-monetary gold – was at $1.5 billion in October.

While Germany was the main destination for Turkish exports, China was the main source of imports during the month.

Medium-high and high-tech’s share of overall exports in October rose from 37.8% to 39.7% year-on-year.

During the first 10 months of the year, the trade balance was at minus $93.9 billion, up 3.2% on a yearly basis.

Türkiye’s exports during the same period amounted to $209.9 billion and imports $303.8 billion.

• Foreign trade
• October 2023
• Turkiye