Türkiye’s trade deficit grew 14.2% year-on-year to $12.2 billion in July, according to official data released on Tuesday.
Turkish exports increased 8.3% from a year earlier to $20.1 billion in July, while imports soared 10.5% to $32.3 billion, the Turkish Statistical Institute (TurkStat) data showed.
Excluding energy products and non-monetary gold, Türkiye last month posted a foreign trade gap of $6 billion.
The exports-to-imports coverage ratio fell to 62.2% this July compared to 63.4% in July 2022.
Türkiye’s outbound shipments to its main trading partner Germany totaled $1.67 billion in July, followed by Italy and the US, both with $1.1 billion.—AA
