Turkey's trade imbalance has significantly worsened, with new data revealing a trade deficit of $9.86 billion in April 2024. This substantial increase follows a March 2024 figure of -$7.34 billion, indicating a sharper decline than analysts had anticipated.
The latest statistics, updated on May 30, 2024, signal a growing concern for the Turkish economy as it struggles to balance its international trade. The widening trade deficit may have multiple underlying causes, including increased imports, decreased exports, or a combination of both, reflecting broader economic stresses.
This rising deficit is expected to put additional pressure on Turkey’s foreign exchange reserves and could lead to heightened volatility in the national currency. Policymakers are likely to monitor the situation closely, weighing potential measures to curb the trade imbalance and stabilize the economy.
