According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in March this year Turkey’s foreign trade deficit decreased by 1.5 percent to $7.20 billion compared to March 2024. In the first quarter of this year, Turkey’s foreign trade deficit went up by 11.0 percent year on year to $22.49 billion.
In March, Turkey’s iron and steel exports ranked sixth among the country’s products with the highest export value, totaling $1.05 billion, up by 18.0 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked eighth among the products with the highest export value, dropped by 12.6 percent year on year, amounting to $833.23 million.
In the first quarter of this year, Turkey’s iron and steel export value was up by eight percent to $2.67 billion, while the value of its exports of articles of iron or steel decreased by 9.7 percent to $2.26 billion, both year on year.