02.05.2025 12:01
The Minister of Trade, Ömer Bolat, announced the foreign trade data for April. Accordingly, the foreign trade deficit in April increased by 21.7%, reaching 12 billion dollars. In the first quarter of the year, the foreign trade deficit rose by 14.5%, amounting to 34.5 billion dollars.
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Trade Minister Ömer Bolat announced that exports increased by 8.5% in April, reaching 20.9 billion dollars. Imports, on the other hand, rose by 12.9% to 33 billion dollars.
Trade Minister Ömer Bolat announced the foreign trade data for April. Accordingly, the foreign trade deficit in April increased by 21.7% to 12 billion 38 million dollars. The foreign trade deficit for the first four months of the year was realized at 34.5 billion dollars, an increase of 14.5%.
Bolat stated that the export of goods in April rose to 20 billion 900 million dollars, an increase of 8.5% compared to the same month last year. Bolat continued his statement: Last April, this figure was 19 billion 292 million dollars. The 8.5% increase was the highest monthly increase in the last 9 months. The second highest April figure was achieved. The development of the parity in favor of the Euro had a positive impact of 440 million dollars on our exports. In the first 4 months of this year, our exports increased in January, March, and April. In February, only a slight decline was recorded, around 300 million dollars.
"THE HIGHEST LEVEL IN OUR REPUBLIC'S HISTORY"
In 13 of the last 23 months, we announced record figures in monthly exports. In 16 of the last 23 months, our exports recorded an increase. In the annualized exports, our goods exports for the last 12 months have risen to 265 billion dollars, the highest level in our republic's history. The most important factor here was that after the announcement of the U.S. customs duties, there was a major turmoil in the global financial markets, leading to significant uncertainty in trade flows, especially resulting in a rush to gold, which is seen as a safe haven. This fueled the demand for gold in our country. Therefore, an increase of 3.8 billion dollars in imports occurred due to the rise in gold, automotive, machinery, cocoa, and coffee imports.
While 750 million dollars of natural gas was imported in April last year, this time the import was 1.5 billion dollars. In April, imports increased by 12.9% to 33 million dollars. Our 4-month forecast for the current account deficit is around 15 million dollars.
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