The foreign trade deficit reached 7.4 billion dollars in October.

Trade Deficit Increased in October

In October, Turkey's trade deficit recorded a 7.4 billion dollars, which is a 24% increase compared to the same month last year. This data once again highlights how variable economic balances can be.

Export and Import Figures

Turkey's Minister of Trade Ömer Bolat announced the October trade data at a press conference held in Istanbul. According to the announced figures, the export amount increased by 2.3% to reach 24 billion dollars.

Meanwhile, in the same period, goods import rose by 6.6%, amounting to 31.4 billion dollars. This situation is interpreted as the cause of the widening trade deficit being the increase in imports.

Impact on Markets

These figures may affect exchange rates and fluctuations in financial markets. Experts emphasize that this increase in the trade deficit may reflect on macroeconomic indicators in the coming periods.