Türkiye’s foreign trade deficit narrows nearly 30% in April

Türkiye's foreign trade deficit narrowed 29.8% year-on-year in April to $8.5 billion, according to the official data released by the Turkish Statistical Institute (TurkStat) on Friday.

Exports rose 22.3% from a year earlier to $25.4 billion in April, while imports increased 3.1% to $33.9 billion.

The export-to-import coverage ratio improved to 74.9% in April from 63.2% in the same month last year.

Excluding energy products and non-monetary gold, exports climbed 23.6% to $23.8 billion, while imports rose 3.3% to $26.2 billion.

The foreign trade deficit excluding energy and non-monetary gold stood at $2.5 billion, with the export-to-import coverage ratio at 90.5%.

In the January-April period, exports increased 3% year-on-year to $88.7 billion, while imports rose 4.3% to $125.8 billion.

The foreign trade deficit widened 7.3% to $37.1 billion in the first four months of the year.

Germany was Türkiye's main export destination in April with $2.1 billion, followed by the US with $1.6 billion, the UK with $1.45 billion, Italy with $1.36 billion and Spain with $1.04 billion.

China was Türkiye's top import partner with $4.48 billion, followed by Russia with $4.43 billion, Germany with $2.36 billion, the US with $1.85 billion and Italy with $1.34 billion.

Manufacturing products accounted for 94.2% of total exports in April, while intermediate goods made up 71.1% of imports.