Türkiye's foreign trade gap continues to narrow in October

Türkiye's foreign trade deficit continued to narrow in October, hitting $65.8 billion for the first 10 months of the year, down 30.1% year-on-year, Turkish Statistical Institute (TurkStat) data showed on Thursday.

The country's exports totaled $216.2 billion in the first 10 months, while imports amounted to $282 billion.

In October alone, exports were at $23.5 billion while imports totaled $29.4 billion.

The foreign trade gap was at $5.9 billion in October, improving 10.5% on a yearly basis.

GERMANY MAIN DESTINATION FOR EXPORTS

In January-October, the share of manufacturing industry products in total exports was 94.2%.

The share of high-tech products in these first 10 months of manufacturing industry exports was 3.4%.

The main partner country for exports was Germany with $17.97 billion, following by the U.S. with $13.38 billion and the UK with $12.49 billion.

Conversely, China was the main source for Türkiye's imports with $37.4 billion, followed by Russia with $35.5 billion and Germany with $22.18 billion.