Data published by the Turkish Statistical Institute, today, Friday, showed that the country’s foreign trade deficit rose 51.4% in February, on an annual basis, to $12.08 billion, after imports jumped 10.1%.
The data showed that imports amounted to $30.71 billion, while exports declined by 6.4%, to $18.64 billion, according to Reuters.
Türkiye reduces gas prices to produce electricity
Under an economic program unveiled in 2021, Turkey aims to achieve a current account surplus by boosting exports and lowering interest rates, despite high inflation and currency depreciation over the past few years.
The data showed that the trade deficit for January and February rose 44.1%, on an annual basis, to $26.33 billion.