Foreign Trade Deficit Of Turkey Has Increased By 135.5 Percent

Turkish Statistical Institute (TurkStat) announced the foreign trade statistics for last February.

According to the data, last month, the foreign trade deficit of Turkey increased by 135.5 percent compared to February of last year and reached 7.88 billion dollars. The two-month foreign trade deficit was recorded as 18.2 billion dollars with an increase of 183.3 percent. Based on the temporary foreign trade data produced within the scope of the general trade system established by the Turkish Statistical Institute and the Ministry of Commerce; In February 2022, exports increased by 25.4 percent compared to February of the previous year, and amounted to 20 billion 4 million dollars, while imports increased by 44.5 percent to 27 billion 885 million dollars. While the ratio of exports to imports was 82.7 percent in February 2021, it decreased to 71.7 percent in February 2022. In January-February, the foreign trade deficit increased by 183.3 percent and reached the level of 18 billion 153 million dollars from 6 billion 408 million dollars. Exports, excluding energy products and non-monetary gold, increased by 25.5 percent in February 2022 from 15 billion 246 million dollars to 19 billion 130 million dollars. In February, imports excluding energy products and non-monetary gold increased by 26.8 percent, hitting $19 billion 690 million from $15 billion 523 million.