April Foreign Trade Figures and Suspension of Trade with Israel

Foreign Trade Figures for the Month of April

The Minister of Trade, Ömer Bolat, announced the foreign trade figures for the month of April. Accordingly, in April 2024, exports increased by 0.13 percent compared to the same month last year, reaching 19 billion 271 million dollars. Imports, on the other hand, increased by 4.2 percent to 29 billion 171 million dollars. During this period, the foreign trade deficit increased by 13.3 percent to 9.9 billion dollars. The export-to-import ratio decreased by 2.7 points to 66.1 percent.

Suspension of Trade with Israel

Prior to announcing the foreign trade figures, Minister Bolat provided information on the suspension of trade with Israel. In response to the ongoing massacre and genocide in Gaza, a decision was made to suspend all trade with Israel until a permanent ceasefire is achieved. It was emphasized that this step is part of Turkey’s efforts to protect the well-being of the people in Gaza and to establish a ceasefire.

Foreign Trade Deficit and General Evaluation

Minister Bolat stated that exports increased by 2.7 percent to 82 billion 873 million dollars in the first four months of 2024. Imports, on the other hand, experienced a decrease of 8.9 percent, amounting to 113 billion 117 million dollars. The foreign trade deficit for the January-April period of 2024 decreased by 30.5 percent to 30.2 billion dollars. As a result, the export-to-import ratio rose to 73.3 percent. It was noted that the annualized exports amount to 257.6 billion dollars, while imports stand at 350.7 billion dollars.