According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in February this year Turkey’s foreign trade deficit increased by 14.8 percent to $7.77 billion compared to February 2024. In the January-February period this year, Turkey’s foreign trade deficit went up by 18.2 percent year on year to $15.31 billion.
In February, Turkey’s iron and steel exports ranked seventh among the country’s products with the highest export value, totaling $830.78 million, down by 5.7 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked ninth among the products with the highest export value, dropped by 14.1 percent year on year, amounting to $694.44 million.
In the first two months this year, Turkey’s iron and steel export value was up by 2.6 percent to $1.63 billion, while the value of its exports of articles of iron or steel decreased by 7.8 percent to $1.42 billion, both year on year.