According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK), in February this year Turkey’s foreign trade deficit decreased by 44.2% to $6.77 billion compared to February 2023.

In the January-February period this year, Turkey’s foreign trade deficit went down by 51.0% year on year to $12.95 billion.

In February, Turkey’s iron and steel exports ranked fifth among the country’s products with the highest export value, totaling $887.9 million, up by 45.7% 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, went up by 8.0% year on year, amounting to $813.72 million.

In the first two months of this year, Turkey’s iron and steel export value was up by 25.4% to $1.59 billion, while the value of its exports of articles of iron or steel increased by 0.2% to $1.55 billion, both year on year.