Türkiye: Trade deficit jumps 137% in 2022 to $109.54 billion


Official data showed on Tuesday, that Türkiye’s foreign trade deficit rose up to 137% year on year to $109.54 billion in 2022, according to the general trade system, while the deficit increased in December by 42% from the previous year.

According to data from the Turkish Statistical Institute, exports rose in 2022 by 12.9% to $254.1 billion, while imports jumped 34% to $363.7 billion.

Turkish exports rose in December by 3% and imports 12.2% from the previous year, with a deficit of $9.7 billion.

As part of an economic program unveiled in 2021, Türkiye aims to record a current account surplus by boosting exports and lowering interest rates, despite high inflation and sharp currency depreciation over the past years.

Rising global energy and commodity prices make this goal more difficult to achieve.

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