Foreign trade in Turkish Lira leap 110 percent

ANKARA

Türkiye’s foreign trade volume in the Turkish Liras increased by 110 percent in the first 10 months of 2022 from a year ago to stand at 297 billion liras, the latest data from the Trade Ministry have shown.

Exports in the local currency amounted to 98 billion liras in January-October, rising from 51.25 billion liras in the same period of last year, while imports increased from 90 billion liras to 199 billion liras.

The number of countries that Türkiye sold its products in Turkish lira was 164, while the number of local companies engaged in exports in local currency reached nearly 6,900 in September.

The country’s exports increased by 2.8 percent year-on-year for an all-time-high October figure of $21.3 billion. Imports grew nearly 32 percent on an annual basis to $29.3 billion.

Türkiye’s foreign trade gap consequently widened more than 430 percent last month from a year ago to $8 billion.

Data from the ministry also showed that exports of high-tech products exhibited an annual decline of 3.2 percent to $2.2 billion, while exports of medium high-tech production rose by 12 percent to $9.2 billion. Medium low-tech products generated $9.5 billion in revenues, leaping 72 percent from October last year.