Türkiye's foreign trade deficit shows remarkable improvement in Q1

The announcement highlighted a significant improvement in the first quarter of 2024, with the trade deficit narrowing to $14.3 billion.

Şimşek pointed to strong export data for March, contributing to the positive trend. This development is expected to lead to a current account deficit well below the $34.7 billion projected for the year, according to the Medium-Term Program (MTP).

The Ministry aims to further reduce the current account deficit to below 2.5% of national income. This strategy, combined with an increasing inflow of foreign resources and a rebalancing of growth, is seen as a key factor in bolstering Turkey's macro financial stability. (ILKHA)