According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in August this year Turkey's foreign trade deficit increased by 13.5 percent to $8.36 billion compared to $7.8 billion in August last year. In the iron and steel sector, Turkey's foreign trade deficit was $725.15 million in August this year, increasing by 7.9 percent from $672.04 million recorded in August 2013.
In August this year, Turkey's iron and steel exports ranked fourth among the country's products with the highest export value, totaling $689.58 million, down by 4.6 percent from July and up 6.6 percent year on year. Meanwhile, in given month the value of exports of articles of iron or steel, which ranked ninth among the products with the highest export value, decreased by 9.7 percent month on month and was down two percent year on year, amounting to $463.8 million.
Meanwhile, in the first eight months of the current year, the value of Turkey's iron and steel exports totaled $6.4 billion, while the value of its exports of articles of iron or steel amounted to $4.2 billion, decreasing by 7.1 percent and up 4.5 percent respectively, both compared to the corresponding period of 2013.
Motor vehicles and parts was the domestic sector with the highest export value in the first eight months of this year with $12.05 billion, up 10.6 percent year on year.
