Turkey’s exports rose by 3.2% to $23.4 billion in March, reaching the second-highest March export in history. The trade deficit stood at $7.3 billion.

Trade Minister Ömer Bolat announced the foreign trade data for March. According to Minister Bolat’s data, exports in March increased by 3.2% to $23.4 billion, marking the second-highest March export in history. Imports rose by 2.3% to $30.7 billion in March. The trade deficit declined by 0.5% annually to $7.3 billion.

In March, the export-to-import ratio increased by 0.7 percentage points to 76.3% compared to the same month last year. Bolat stated that the largest contribution to the increase in imports in March came from natural gas and LNG. Between January and March, exports reached $65.3 billion, up by 2.5%.

Regarding the new customs duties imposed by the United States, Minister Bolat mentioned that they would discuss additional customs duties during their visit in mid-May. He stated, “We are prepared to increase our exports.” Bolat also revealed that they would travel to the UK in the first week of May to discuss expanding the free trade agreement to the services sector and some agricultural products with the new Secretary of Trade.