Turkiye sees fall in imports and exports in September

An aerial view of farmers drying tomatoes they harvest during scorching heat in Karacadag district of Diyarbakir, Turkiye on July 26, 2023 [Ömer Yasin Ergin – Anadolu Agency]

Turkiye’s exports fell to $22 billion in September, marking a 1.8 per cent decline year on year, the Turkish trade minister announced on Wednesday, Anadolu has reported. Imports also dropped by 1.4 per cent last month, down to $27.1bn, Omer Bolat told journalists in Ankara.

The foreign trade deficit for September stood at $5.1bn, roughly the same as in September 2023, he added.

For the third quarter of the year, exports rose 4.4 per cent to $66.6bn, while imports fell 6.8 per cent to $84bn compared with the same period last year, said Bolat. The foreign trade deficit for the quarter was $17.4bn, down 34 per cent. The export-import coverage ratio improved to 79.2 per cent, up from 70.8 per cent a year earlier.

In the first nine months of 2023, exports increased 3.2 per cent to $192.8bn, while imports fell 8 per cent to $252.9bn, noted the minister.

He highlighted the fact that the foreign trade deficit narrowed by 31.5 per cent to $60.1bn during the January-September period.

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