Türkiye's foreign trade gap halves in January-February

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's foreign trade deficit decreased by 51% to $12.95 billion during the January-February period, on a yearly basis, official figures showed on Friday.

The Turkish Statistical Institute (TurkStat) announced that the country's exports totaled $41 billion, up by 8.5%, and imports dropped by 16% to $54 billion over the same period.

The foreign trade deficit was $6.77 billion in February alone, narrowing by 44.2% year-on-year.

Türkiye's exports went up by 13.6% to $21 billion, while imports fell by 9.2% to $27.85 billion in February versus the same month last year.

The exports - excluding energy products and non-monetary gold - were $19.6 billion, up 12.3%, and imports were $20.99 billion with a 5.2% increase, year-on-year in February.

The foreign trade deficit - excluding energy products and non-monetary gold - was $1.4 billion in February 2024.