Decline in foreign trade deficit
According to TURKSTAT data, the foreign trade deficit, which reached a nine-month high in April, decreased by 48 percent to 6 billion 502 million dollars in May. While the ratio of exports to imports was 63.4 percent in May 2023, it rose to 78.7 percent in May 2024. In May, imports excluding energy products and non-monetary gold decreased by 8 percent from 26 billion 65 million dollars to 23 billion 971 million dollars.
According to Turkstat data, foreign trade deficit decreased by 48 percent in May.
In May, foreign trade deficit decreased by 48 percent compared to the same month of the previous year, from 12 billion 495 million dollars to 6 billion 502 million dollars.
While the ratio of exports to imports was 63.4 percent in May 2023, it increased to 78.7 percent in May 2024.
In January-May period, foreign trade deficit decreased by 34.3 percent from 56 billion 33 million dollars to 36 billion 805 million dollars.
While the ratio of exports to imports was 64.6 percent in the January-May period of 2023, it increased to 74.4 percent in the same period of 2024.
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