Middle East

Turkiye energy import covering ratio increased in April

Turkiye’s energy import covering ratio increased to more than 100 per cent, Turkey Trade Minister, Mehmet Mus said, Anadolu News Agency reports.

According to the report, Turkiye’s exports surged 24.6 per cent year-over-year last month to $23.4 billion (TL 347.86 billion),

“This is the highest ever monthly export figure,” he said.

Energy imports accounted for a $20.7 billion, out of the total $33.2 billion increase in imports from January through April of 2022, Mus added.

He also informed that some 2,080 new firms joined the energy import family in April, achieving $123.4 million worth of sales.

The Russia-Ukraine conflict has lifted energy prices all over the world, a situation that Mus said has also affected Turkiye and has created upward pressure on import prices.

READ: Is it Erdogan who has changed, or the international balance?

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