Record foreign trade deficit in Turkish economy

18:02 - 2 February 2023

February 2, Fineko/ The Turkish economy has registered a record foreign trade deficit in the first month of the new year.

ABC.AZ reports that Turkish Trade Minister Mehmet Muzh said that in January exports amounted to $19.4 bn with an increase of 10.4% compared with the same month of the previous year.

Imports totaled $33.7 bn. The foreign trade deficit reached a record $14.3 bn.

According to the Statistical Office of Turkiye (TÜIK), the foreign trade deficit grew by 42% in December 2022 compared with the same month of 2021 - from $6.83 bn up to $9.7 bn.