Türkiye increases export of its products

The Turkish Statistical Institute (TUIK) and the Trade Ministry have announced that Türkiye's export volume increased by 5.2 per cent in November 2023 to $22.999 billion compared to November 2022, while import volume decreased by 5.7 per cent to $28.916 billion.

The foreign trade deficit decreased by 32.6 per cent in November 2023 from $8.784 billion to $5.918 billion compared to November 2022, Anadolu Agency reports citing the data sent by TUIK and the Trade Ministry.

The export-import coverage ratio increased to 79.5 per cent in November 2023 compared to 71.3 per cent in November 2022.

Meanwhile, the Turkish export volume increased by 0.7 per cent to $232.810 billion in January-November 2023 compared to the same period of last year while the import volume - by 0.5 per cent to $332.736 billion.

The foreign trade deficit increased by 0.1 per cent from $99.828 billion to $99.926 billion in January-November 2023.

The export-import coverage ratio increased to 70 per cent in January-November 2023 compared to 69.8 per cent in January-November 2022.