Turkey's foreign trade gap narrows 32.8% in January

Turkey’s foreign trade deficit dropped 32.8% year-on-year in January, the country’s statistical authority said on Friday.

The figure fell to $3.34 billion from $4.51 billion in the same month last year, according to TurkStat.

Exports rose 2.3% on an annual basis to reach $15.45 billion last month, while imports slipped 5.9% to $18.79 billion, latest data showed.

The exports-to-imports coverage ratio increased to 83.2% last month, up from 76.5% in January 2020.