Turkiye's foreign trade using local currency on rise

11 Apr '22

2 min read

Pic: Shutterstock

Turkiye’s foreign trade volume carried out with the Turkish lira has been rising, according to recent trade ministry data, which showed exports in Turkish lira reached TL 66.7 billion ($4.5 billion) as of 2021 end, while imports made in Turkish lira during that period were worth TL 116.4 billion, making foreign trade volume reach TL 182.8 billion last year.

Trade using the local currency increased in the first three months of this year as well. In January, such exports were worth TL 7.1 billion, while such imports were worth TL 12.5 billion, making the foreign trade volume TL 19.1 billion.

In February, such exports totalled TL 8.5 billion, while such imports were worth TL 13.5 billion. The foreign trade volume, therefore, was TL 22.1 billion.

In March, such exports amounted to TL 9.3 billion, an increase of 8.3 per cent compared to the previous month and of 71.9 per cent compared to the same month of 2021. In that month, the amount of imports in Turkish lira was TL 17.1 billion and the foreign trade volume increased to TL 26.4 billion, according to a Turkish news agency.

In the first quarter of this year, such exports increased by 71.8 per cent compared to the same quarter last year to reach TL 24.9 billion.

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