There is serious deficit in Türkiye's foreign trade

17:25 - 2.06.2023

June 2, Fineko/abc.az. Double-digit deficit was recorded in Türkiye's foreign trade in May.

ABC.AZ reports with reference to the Turkish Ministry of Trade that in May exports increased by 14.4% versus May 2022 to $21.7 bn and imports increased by 16% to $34.3 bn. The foreign trade deficit increased by 19% to $12.7 bn for May 2023.

In May, compared with May 2022, the ratio of exports to imports decreased by 0.9 points to 63.1%.

The countries that exported the most goods in May were Germany ($1.81 bn), the U.S. ($1.307 bn) and the UK ($1.51 bn). The Top 10 countries with the highest share of exports had a share of 47.5% in total exports.

The countries that imported the most goods in May: the Russian Federation ($4.575 bn), China ($4.347 bn) and Germany ($2.67 bn).

The Top 10 countries with the highest share of imports had a share of 60% in total imports.