ACCOUNTINGBUSINESS DEVELOPMENTFINANCEINTERNATIONAL TRADE430 Percent Increase in Foreign Trade Deficit in October

According to the data announced by the Minister of Trade Mehmet Muş, the foreign trade deficit in October increased by 430.4 percent compared to the same month of the previous year and reached 8 billion dollars. The deficit increased by 168.5 percent in the 10-month period.

The foreign trade deficit increased by 168.5 percent in January-October and reached 91.1 billion dollars. Meanwhile, exports increased by 15.4 percent in January-October to 209.45 billion dollars, while imports increased by 39.5 percent to 300.55 billion dollars in the same period. In October, the ratio of exports to imports decreased by 20.5 points and became 72.7 percent.

by Ayhan YILMAZ, SMMM/CPA

Born in 1986, Ayhan YILMAZ graduated from Turkey’s first English-focused vocational high school, Manisa Anatolian Trade Vocational High School, specializing in Foreign Trade. He continued his education at Muğla Sıtkı Koçman University, earning a degree in Foreign Trade, followed by studies at Muğla Sıtkı Koçman School of Foreign Languages in English Teaching and Anadolu University Faculty of Economics. In 2020, he obtained the title of Certified Public Accountant (CPA). In 2024, he began an MBA (Master’s in International Management) at the University of Lisbon, ranked 260th among the world’s best public universities. He is fluent in English and has basic proficiency in Spanish and Bulgarian. Committed to the philosophy of lifelong learning, Ayhan YILMAZ continues his professional endeavors. For more detailed information, feel free to contact him.

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