TÜİK shared the figures for February: Exports increased and imports decreased

According to this; In February 2024, exports increased by 13.6 percent compared to the same month of the previous year, reaching 21 billion 82 million dollars, and imports decreased by 9.2 percent, reaching 27 billion 853 million dollars. In the January-February period of 2024, exports increased by 8.5 percent compared to the same period of the previous year, reaching 41 billion 78 million dollars, and imports decreased by 16 percent, reaching 54 billion 33 million dollars.

In February, the foreign trade deficit decreased by 44.2 percent compared to the same month of the previous year, falling from 12 billion 130 million dollars to 6 billion 771 million dollars. While the export-import coverage ratio was 60.5 percent in February 2023; It increased to 75.7 percent in February 2024. In the January-February period of 2024, the foreign trade deficit decreased by 51 percent, from 26 billion 419 million dollars to 12 billion 955 million dollars. While the export-import coverage ratio was 58.9 percent in the January-February period of 2023; It increased to 76 percent in the same period of 2024.

Germany ranked first in exports in February. While exports to Germany amounted to 1 billion 722 million dollars, these countries are; It was followed by the USA with 1 billion 332 million dollars, Italy with 1 billion 158 million dollars, Iraq with 1 billion 73 million dollars, and the United Kingdom with 1 billion 66 million dollars. Exports to the top 5 countries constituted 30.1 percent of total exports. Germany ranked first in exports in the January-February period. While exports to Germany amounted to 3 billion 484 million dollars, these countries are; It was followed by the USA with 2 billion 536 million dollars, Iraq with 2 billion 169 million dollars, Italy with 2 billion 156 million dollars and the United Kingdom with 2 billion 88 million dollars. Exports to the top 5 countries constituted 30.3 percent of total exports.

The Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 4 billion 27 million dollars in February, these countries are; It was followed by China with 3 billion 434 million dollars, Germany with 2 billion 218 million dollars, Italy with 1 billion 543 million dollars, and the USA with 1 billion 337 million dollars. Imports from the first 5 countries constituted 45.1 percent of total imports. In the January-February period, the Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 8 billion 352 million dollars, these countries are; It was followed by China with 6 billion 327 million dollars, Germany with 4 billion 135 million dollars, the USA with 2 billion 739 million dollars, and Italy with 2 billion 730 million dollars. Imports from the first 5 countries constituted 44.9 percent of total imports.