Author: Paul Ploumis
06 May 2015 Last updated at 02:25:18 GMT
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.