According to the Ministry of Trade data, the foreign trade deficit exceeded 73 billion dollars in 7 months

foreign trade deficit

According to the Ministry of Trade’s provisional data, the foreign trade deficit reached 12.4 billion dollars in July, while the total deficit for the 7-month period amounted to 73.6 billion dollars.

According to the Ministry of Trade’s provisional data, in July 2023, compared to the same month of the previous year:

  • Export increased by 8.4% to reach 20 billion 93 million dollars.
  • Import increased by 11.1% to reach 32 billion 476 million dollars.

For the January-July period of 2023:

  • Export experienced a decrease of 0.6% and amounted to 143 billion 435 million dollars.
  • Import increased by 5.1% and reached 217 billion 52 million dollars.

The trade deficit for July was 12 billion 383 million dollars, while the trade deficit for the January-July period was 73 billion 618 million dollars.

The total foreign trade volume in July increased by 10.0% and reached 52 billion 569 million dollars.

The import/export coverage ratio was 62 percent

In July 2023, compared to the same month of the previous year:

  • The import/export coverage ratio decreased by 1.5 percentage points to 61.9 percent.
  • Excluding energy data, the import/export coverage ratio decreased by 9.7 percentage points to 68.8 percent.
  • Excluding both energy and gold data, the import/export coverage ratio decreased by 9.6 percentage points to 75.5 percent.
  • As always, the highest amount of exports was made to Germany.

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