Türkiye's foreign trade deficit down to $8.6B in August

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's foreign trade deficit was $8.6 billion in August, down by 23.1% on a yearly basis, the Turkish Statistical Institute (TurkStat) said on Friday.

Exports were $21.6 billion, up 1.6% year-on-year, while imports decreased by 6.9% to $30.3 billion.

The manufacturing sector took the lion's share of exports in the month with 94.7%.

The share of high-tech products in exports, meanwhile, increased to 3.7%, up from 2.9% last year.

The medium-high tech industry's share also rose to 35.2% from 32.4% over the same period.

In the first eight months, the foreign trade gap was $82.3 billion, expanding by 11.9% on a yearly basis.

Exports and imports in the January-August period totaled $164.8 billion and $247.1 billion, respectively.