Türkiye’s Exports Reach $178.1B in First Eight Months

Türkiye recorded $178.1 billion in exports during the first eight months of the year, marking a 4.3% annual increase, the Trade Ministry announced Wednesday.

The country's imports rose 5.6% to $238.2 billion over the same period, the Turkish Trade Ministry announced on Wednesday, The Caspian Post reports, citing Anadolu.

Türkiye's foreign trade gap was at $60 billion in the January-August period, increasing by 9.6% from the same period last year.

The export-import coverage ratio dropped to 74.8%, from 75.7% in the same period last year.

In August alone, the country's exports contracted by 0.9% to $21.8 billion, while imports dropped by 3.9% to $25.96 billion.

The foreign trade deficit narrowed by 16.7% to $4.16 billion in August, while the export-import coverage ratio was at 83.9%, up from 81.5%.