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Turkey's exports reached record levels in January


February, 02 2024
watermark Economic news

In January, Turkey reached a historical record in exports, the volume of which amounted to 20 billion 28 million dollars, according to Trade Minister Omer Bolat. The volume of exports increased by 3.6% compared to January 2023.


The Minister also stressed that Turkey's share in the total volume of world exports increased to 1.06%, which is accompanied by a decrease in imports and a deficit in the foreign trade balance. There is also an increase in the ratio of exports to imports.


It is important to note that in 2023, Turkey reached a record in exports, which amounted to $255.8 billion, despite the losses that occurred during the February earthquakes.


As for imports, in January of this year it decreased by 22% and amounted to 26 billion 201 million dollars. 


It is important to note that the deficit of Turkey's foreign trade balance in January decreased by 57% compared to last year and amounted to $6.2 billion. The import export coverage ratio also increased by 18.9 points and reached 76.4%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.