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Turkey's exports reached record levels in January

February, 02 2024
watermark Economic news

In January, Turkey reached a historical record in exports, the volume of which amounted to 20 billion 28 million dollars, according to Trade Minister Omer Bolat. The volume of exports increased by 3.6% compared to January 2023.

The Minister also stressed that Turkey's share in the total volume of world exports increased to 1.06%, which is accompanied by a decrease in imports and a deficit in the foreign trade balance. There is also an increase in the ratio of exports to imports.

It is important to note that in 2023, Turkey reached a record in exports, which amounted to $255.8 billion, despite the losses that occurred during the February earthquakes.

As for imports, in January of this year it decreased by 22% and amounted to 26 billion 201 million dollars. 

It is important to note that the deficit of Turkey's foreign trade balance in January decreased by 57% compared to last year and amounted to $6.2 billion. The import export coverage ratio also increased by 18.9 points and reached 76.4%.

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