Turkey’s foreign trade deficit was USD 6.1 billion in December and USD 106 billion for the whole 2023 with a 3.2 percent decline.
According to the statement made by the Ministry of Trade, in December 2023, compared to the same month of the previous year, exports increased by 0.44% to USD 22.99 billion dollars and imports decreased by 10.73% to USD 29.11 billion. Foreign trade volume decreased by 6.13% to USD 52.11 billion in December.
In January-December 2023, exports increased by 0.64% to USD 255.81 billion and imports decreased by 0.51% to USD 361.85 billion. Trade volume decreased by 0.04% year-on-year to USD 617.65 billion for the whole 2023.
The ratio of exports to imports increased by 8.78 points to 79% in December 2023 compared to the same month of the previous year. Excluding energy data, the ratio of exports to imports increased by 7.67 points to 95.73%. Excluding energy and gold data, the ratio of exports to imports increased by 2.59 points to 101.19%
The countries to which we exported the most in December were Germany (USD 1.68 billion), USA (USD 1.31 billion) and Iraq (USD 1.25 billion). The countries to which we exported the most in the January-December period were Germany (USD 21.94 billion), USA (USD 14.83 billion), Iraq (USD 12.79 billion).
The countries we imported the most in December were; Russian Federation (USD 4.21 billion), China (USD 3.27 billion) and Germany (USD 2.51 billion). The countries we imported the most in the January-December period were Russian Federation (USD 45.61 billion), China (USD 44.98 billion), Germany (USD 28.68 billion).
