According to a report released by the Turkish Statistical Institute on Tuesday, Turkey's trade deficit in November expanded as exports experienced their most significant decline in five months, concurrent with a resurgence in imports.
The trade deficit rose to $7.46 billion, compared to $5.97 billion in the same month the previous year. In October 2024, the deficit was recorded at $5.93 billion.
Exports saw an annual decrease of 3.1 percent, counteracting the 3.0 percent rise noted in October, marking the steepest drop since June.
Conversely, imports rose for the first time since April, with a 2.7 percent increase after having remained stagnant the previous month, according to the data.
For the period from January to November, the trade deficit reduced to $73.3 billion from $100.24 billion in the same period the prior year. This improvement was facilitated by a 2.5 percent rise in exports, while imports saw a 6.3 percent decline.
