Financial News: Turkey Trade Gap Widens In January

Turkey Trade Gap Widens In January

02/27/2025 - 03:56:00 (RTTNews)

(RTTNews) - Turkey's foreign trade deficit increased at the start of the year as imports grew faster than exports, the Turkish Statistical Institute reported Thursday.

The trade deficit increased to $7.5 billion in January from $6.2 billion in the same month last year. The shortfall totaled $8.8 billion in December.

Exports registered an annual increase of 5.8 percent, and imports surged by 9.6 percent.

The main partner country for exports during January was Germany, followed by the USA, UK, UAE, and Iraq.

Excluding energy products and non-monetary gold, the foreign trade shortfall was $1.34 billion.

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