Türkiye's trade deficit hits $8.7B in April

Exports fall 17.1% year-on-year to $19.3B in April, imports down 4.8% to $28.1B, official data shows

By Tuba Ongun

ANKARA (AA) - Türkiye's trade deficit widened by 42.1% from a year earlier to $8.7 billion in April, according to official data released on Tuesday.

Its exports dropped 17.1% year-on-year to $19.3 billion in April, while imports fell 4.8% to $28.1 billion, the Turkish Statistical Institute (TurkStat) said.

Excluding energy products and non-monetary gold, Türkiye posted a foreign trade gap of $3.82 billion last month.

The exports-to-imports coverage ratio decreased to 68.9% this April versus 79.1% in April 2022.

Türkiye's shipments to its main trading partner Germany amounted to $1.59 billion last month, followed by the US with $1.16 billion, Iraq $970 million, Italy $954 million, and the UK $945 million.

In April, Türkiye imported the most from Russia ($4.18 billion), China ($3.69 billion), Germany ($2.17 billion), Italy ($1.15 billion) and the US ($1.12 billion)

- January-April data

In January-April, Türkiye's overseas shipments slipped 3% from the prior year to $80.9 billion, while its imports increased 7.1% to $124.3 billion.

Türkiye's foreign trade deficit grew 32.9% from last year to $43.4 billion in the four-month period.

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