According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in July this year Turkey's foreign trade deficit decreased by 34.8 percent to $6.4 billion compared to $9.9 billion in July last year. In the iron and steel sector, Turkey's foreign trade deficit was $731.9 million in July this year, falling by 15.7 percent from $868.5 million recorded in July 2013.
In July this year, Turkey's iron and steel exports ranked fifth among the country's products with the highest export value, totaling $722.8 million, down by 5.7 percent from June and down 4.7 percent year on year. Meanwhile, in given month the value of exports of articles of iron or steel, which ranked tenth among the products with the highest export value, decreased by 0.3 percent month on month and was down 4.2 percent year on year, amounting to $513.8 million.
Meanwhile, in the first seven months of the current year, the value of Turkey's iron and steel exports totaled $5.7 billion, while the value of its exports of articles of iron or steel amounted to $3.74 billion, decreasing by 8.4 percent and up 5.5 percent respectively, both compared to the corresponding period of 2013.
Motor vehicles and parts was the domestic sector with the highest export value in the first seven months of this year with $11.1 billion, up 11.6 percent year on year.