Foreign trade deficit increased 421.7 percent in October

The Turkish Statistical Institute published foreign trade statistics for October.

According to the data, in October the foreign trade deficit increased 421.7 percent compared to the same month of the previous year, going from 1,509 million dollars to 7,874 million dollars. While the export-import ratio was 93.2% in October 2021, it decreased to 73% in October 2022.

In October 2022, exports increased 3.0 percent compared to the same month of the previous year and reached 21,328 million dollars, while imports increased 31.4 percent and reached 29,202 million dollars.

EXCESS OF FOREIGN TRADE OF ENERGY AND GOLD IS 1.1 BILLION DOLLARS

Exports, excluding energy products and non-monetary gold, increased 1.0 percent in October 2022 from $19.568 million to $19.766 million.

In October, imports without energy products and non-monetary gold increased 12.8% and went from 16 thousand 527 million dollars to 18 thousand 637 million dollars.

The foreign trade surplus excluding energy products and non-monetary gold was 1,129 million dollars in October. The volume of foreign trade increased 6.4 percent and was registered at 38 thousand 402 million dollars.

In said month, the export/import ratio, excluding energy and gold, was 106.1 percent.

THE FOREIGN TRADE DEFICIT INCREASES 168 PERCENT IN 10 MONTHS

In the January-October period, the foreign trade deficit increased 168.3 percent, going from 33 thousand 933 million dollars to 91 thousand 49 million dollars. While the export to import ratio was 84.3 percent in the January-October 2021 period, it decreased to 69.7 percent in the same period in 2022.

In the January-October period, exports increased 15.4 percent compared to the same period of the previous year and reached 209 thousand 394 million dollars, while imports increased 39.4 percent and reached 300 thousand 443 million dollars. .