Turkey Achieves a Historic Decline in Trade Deficit for 2024 Despite Economic Challenges

Recent official data has shown a significant improvement in Turkey's foreign trade indicators for 2024. Exports increased by 2.4%, while imports dropped by 5%, leading to a 22.7% reduction in the trade deficit, bringing it down to $82.165 billion from $106.339 billion in 2023.

According to data from the Turkish Statistical Institute (TÜİK) and the Ministry of Trade, Turkish exports in December 2024 reached $23.443 billion, marking a 2.1% increase compared to the same period last

year, while imports rose by 10.9% to $32.221 billion.

Source: Turkey Urgent (Türkiye Acil)