Financial News: Turkey Trade Gap Widens In December

Turkey Trade Gap Widens In December

01/31/2025 - 03:14:00 (RTTNews)

(RTTNews) - Turkey's trade deficit increased at the end of the year as imports grew much faster than exports, the Turkish Statistical Institute reported Friday.

The trade deficit increased to $8.78 billion in December from $6.10 billion in the same month last year. The shortfall totaled $7.49 billion in November.

Exports registered an annual increase of 2.1 percent, while imports surged by 10.9 percent.

The main partner country for exports during December was Germany, followed by the USA, UK, Iraq, and Italy.

Excluding energy products and non-monetary gold, the foreign trade shortfall was $1.65 billion.

During the year 2024, the total trade balance of the country showed a deficit of $82.17 billion, down from $106.34 billion in 2023. This was mainly due to a 22.7 percent slump in imports amid a 2.4 percent rise in exports.

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