Foreign Trade Deficit Starts the Year with an Increase

The export rose by 5.8 percent in January compared to the previous year, reaching 21 billion 165 million dollars. On the other hand, imports increased by 9.6 percent to 28 billion 703 million dollars. During this period, the foreign trade deficit showed a 22 percent annual increase. The Turkish Statistical Institute (TUIK) released the first foreign trade data of the year. Accordingly, in January, the trade deficit increased by 21.9 percent compared to the same month of the previous year, rising from 6 billion 185 million dollars to 7 billion 538 million dollars. The export-to-import ratio in January was 76.4 percent, but it dropped to 73.7 percent in January 2025. In January 2025, exports rose by 5.8 percent compared to the same month of the previous year, reaching 21 billion 165 million dollars, while imports increased by 9.6 percent to 28 billion 703 million dollars. Exports excluding energy products and non-monetary gold increased by 5.0 percent in January 2025, rising from 18 billion 576 million dollars to 19 billion 508 million dollars. In January, imports excluding energy products and non-monetary gold increased by 11.8 percent from 18 billion 646 million dollars to 20 billion 845 million dollars. The foreign trade deficit excluding energy products and non-monetary gold amounted to 1 billion 336 million dollars in January. The foreign trade volume increased by 8.4 percent, reaching 40 billion 353 million dollars. The export-to-import ratio excluding energy and gold in that month was 93.6 percent.