Turkish steel import values climb higher during Q1 2015, export values drop

Based on recent statistics released by the Turkish Statistical Institute (TUIK), the country's import values generated by iron and steel climbed higher

ANKARA (Scrap Monster): Based on recent statistics released by the Turkish Statistical Institute (TUIK), the country’s import values generated by iron and steel climbed higher year-on-year during the initial three-month period of the year. On the other hand, export values recorded decline during the quarter.

As per data, Turkey’s import values generated by iron and steel amounted to $13.9 billion during the three-month period from January to March this year, 1.3% higher when compared with the corresponding period during last year. The country’s import values of articles of iron and steel dropped marginally by 1.5% over the year to $6.42 billion. The import value of iron and steel totaled $4 billion during the month of March alone, registering a decline of 3.8% year-on-year.

Meantime, the steel exports during the month of March alone amounted to $653.7 million, significantly higher by 21.1% when compared with those during March 2014. The cumulative iron and steel exports during the three-month period from January to March this year totaled $1.91 billion, 23.1% lower in comparison with the exports during the same period a year before.

The country’s foreign trade deficit surged higher to touch $6.15 billion during the month of March this year. The trade deficit surged higher by 17.2% when compared with the previous year.

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