Turkish exports in February 2024 experienced a year-on-year increase of 13.6 percent, reaching $21.8 billion. This achievement represents the highest export value for the month of February in the history of the country. Conversely, imports declined by 9.2 percent to $27.8 billion.
Read more: Egypt, Türkiye forge $7 billion investment deal for new industrial zone
Foreign Trade Statistics, February 2024
According to the general trade system exports increased by 13.6%, imports decreased by 9.2% respectively in February 2024
You can visit our website for details.🔎
↪️ https://t.co/lBrG6cf1hr— turkstat (@TurkStat) March 29, 2024
According to the Turkish Statistical Institute, this positive trend persisted during the two-month period of January-February 2024. Exports grew by 8.5 percent to $41.8 billion, while imports decreased by 16 percent to $54.3 billion. As a result, the trade deficit significantly narrowed, dropping by 44.2 percent compared to the same month of the previous year. This improvement can be attributed to the simultaneous increase in exports and decrease in imports.
In February, Germany maintained its position as Türkiye‘s top export partner, followed by the United States (U.S.), Italy, Iraq, and the United Kingdom (U.K.). Russia was the primary source country for imports, closely followed by China, Germany, Italy, and the U.S..
An encouraging aspect is that the proportion of manufactured goods in total exports reached a noteworthy level of 94 percent in February. This indicates the strength of Türkiye‘s manufacturing sector. However, the ratio of high-tech products in these exports remains relatively modest at 2.7 percent, suggesting potential for growth in advanced technologies.
For more news on logistics, click here.
