Turkish exports hit all-time high July figure of $16.4B

Posting a year-on-year rise of 10%, Turkey's exports hit an all-time high July figure of $16.4 billion, the country's trade minister announced on Monday.

The 12-month rolling export figure in July exceeded $200 billion for the first time in Turkey's history and reached $201.5 billion, Mehmet Muş said in a news conference in the capital Ankara, citing preliminary figures.

The country's imports also surged 17% to $20.7 billion in the same period, Muş stated.

In January-July, exports totalled $121.4 billion, surging 35% from the same period last year.

"If we compare the seven-month figure with the pre-pandemic period (January-July 2019), this also posted a 16.4% increase," the minister added.

Turkish imports jumped 26% on an annual basis to $146.8 billion in the first seven months of this year.

The exports/imports coverage ratio went up 5.6 percentage points to 82.7% during the same period, the minister said.

The country's foreign trade deficit narrowed 5% to $25.5 billion in January-July, Muş also said.