Türkiye's foreign trade deficit at $109.5B in 2022

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye’s international trade deficit was at $109.5 billion in 2022, up from $46.2 billion in the previous year, according to figures released by the Turkish Statistical Institute (TurkStat) on Tuesday.

The country's exports totaled $254.17 billion in the last year, up 12.9% on an annually basis, the figures showed.

Türkiye's imports also rose 34% to $363.7 billion over the same period, TurkStat said.

Germany was the main destination for Türkiye's exports in 2022 with $21.14 billion, while Russia was the main import source with $58.85 billion, it added.

The high-tech products' share in the country's overall exports was at 4.3% in 2022, up by 22.8% from 3.6% in 2021.

Last month alone, the country's exports and imports amounted to $22.23 billion and $29.06 billion, respectively, up by 3% and 12.2% on a yearly basis.

The foreign trade gap in the month was at $9.7 billion, the statistical institute also said.