Türkiye’s Trade Minister revealed that the country’s exports reached a new high for the month of October, with a year-on-year increase of 7.4%, totaling $22.9 billion.
Türkiye’s imports also saw a slight uptick, rising by 1.3% compared to the previous year, reaching $29.6 billion for the month of October, as reported by Ömer Bolat during a press conference on Türkiye’s preliminary foreign trade data.
Foreign trade gap shrank
“Thus, the country’s foreign trade gap shrank 15% to $6.7 billion in October,” Bolat noted.
The exports-to-imports coverage ratio gained 4.4 percentage points to 77.3% last month.
Between January and October, Türkiye’s overseas shipments slightly rose by 0.3% annually to $210.1 billion, while imports peaked by 1.2% to $304 billion.
“The country’s 12-month rolling exports reached $254.8 billion as of this October with a hike of 0.7%, exceeding the record high figure of $254.2 billion registered at the end of 2022,” Bolat said.