Türkiye’s exports to Russia in August hit an all-time monthly high, the Turkish Exporters Assembly said.
In August 2022, the export of goods from Turkey to Russia increased by 87.2% to $738,5 mln compared to August 2021.
Foreign sales jumped 13.1% year-over-year last month to $21.3 bln. Imports rose at a much faster pace, jumping 40.7% to $32.6 bln, the ministry data showed.
The trade deficit surged by nearly 162% to a record $11.3 billion in August, the data showed, as surging energy import costs continue to widen the shortfall. The deficit in the first eight months jumped by 146.4% to $73.4 billion.
Sales rose more than 18.3% year-over-year from January through August to $165.67 billion, while imports jumped 40.7% to $239.13 billion, the data showed.
Exports had ended 2021 at $225.4 billion, a figure that government and economists expected to reach $250 billion this year. The 12-month rolling exports topped $250 billion as of last month.
