Turkey's Trade Balances: A July to Remember

In July, Turkey experienced a 12.1% year-on-year decrease in its trade deficit, which stood at $6.4 billion. Exports increased to $25 billion, while imports reached $31.4 billion. The announcement was made by Trade Minister Omer Bolat during a press conference in Samsun.

Turkey's trade deficit shrank by 12.1% year-on-year, settling at $6.4 billion for the month of July, according to Trade Minister Omer Bolat. The announcement was made on Saturday.

Exports saw a significant rise, reaching $25 billion, while imports clocked in at $31.4 billion for the same month. These figures were disclosed by Bolat during a press conference held in Samsun.

The narrowing of the trade deficit highlights Turkey's economic resilience amidst global challenges, offering a boost to the nation's economic outlook.

(With inputs from agencies.)