According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in August this year Turkey's foreign trade deficit decreased by 5.3 percent to $4.68 billion compared to August 2015. In the first eight months of this year, Turkey's foreign trade deficit declined by 17.3 percent year on year to $37.5 billion.
In August, Turkey's iron and steel exports ranked sixth among the country's products with the highest export value, totaling $602.97 million, increasing by 14.1 percent year on year. Meanwhile, in the given month the value of exports of articles of iron or steel, which ranked eighth among the products with the highest export value, rose by 0.1 percent year on year, amounting to $439.51 million.
In the January-August period of this year, Turkey's iron and steel export value decreased by 14.7 percent to $3.97 billion, while the value of its exports of articles of iron or steel declined by 11.7 percent to $3.26 billion, both year on year.