ISTANBUL

Türkiye's exports totaled $22.5 billion in July, hitting a historical high level for the month, the Turkish trade minister said on Friday.

The country's exports posted an annual hike of 13.8%, while imports dropped by 7.9% to $32.3 billion.

The foreign trade balance narrowed by 42.3% on a yearly basis to $7.2 billion.

Exports-imports coverage ratio was 75.7%, improving from 61.2% in July 2023.

During the January-July period, exports amounted to $148.8 billion, up 4.1% year-on-year, while imports fell by 8.4% to $198.6 billion.

The deficit was $49.8 billion in the first seven-month period, decreasing 32% year-on-year.

The 12-month rolling exports totaled $261.5 billion, another record level for Türkiye, up by 3.4% on a yearly basis.