According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in April this year Turkey’s foreign trade deficit increased by 67 percent to $4.56 billion compared to April 2019. In the January-April period of the current year, Turkey’s foreign trade deficit rose by 102.3 percent year on year to $17.54 billion.
In April, Turkey’s iron and steel exports ranked second among the country’s products with the highest export value, totaling $653.79 million, falling by 27.5 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked sixth among the products with the highest export value, declined by 32.2 percent year on year, amounting to $394.73 million.
In the first four months of the year, Turkey’s iron and steel export value was down by 23.8 percent to $2.81 billion, while the value of its exports of articles of iron or steel decreased by 8.7 percent to $1.99 billion, both year on year.