Türkiye’s exports hit an all-time high for January with a 10.4 percent annual jump to $19.4 billion, Trade Minister Mehmet Mus said, Trend reports citing Hurriyet Daily News.
Imports spiked to $33.7 billion - up 21.2 percent - last month due to surging energy and commodity prices, the minister said at a news conference in Ankara.
“Despite the ongoing uncertain outlook in the global economy in 2023, we are working hard to further our export success,” Muş said.
The weak demand in the European economies creates a significant risk to our exports, Muş said. “We are working to ensure that Türkiye is the first choice in the supply of goods and services for the Middle East and Gulf countries, whose incomes, and therefore demands, are rising due to rising energy prices.”
The country’s energy imports amounted to $9 billion in January, Mus said, leaping 238 percent from a year earlier.
Türkiye’s trade deficit jumped to $14.3 billion in January, mainly due to energy imports and commodity prices.