According to preliminary data, Turkey's foreign trade deficit decreased by 21.96 percent to $6.28 billion, indicating gold exports could be realized at a low amount following a performance in May, which could have compensated the fall in exports in the first quarter. The Customs and Trade Ministry revealed that the exports decreased by 6.26 percent to $11.9 billion and imports decreased by 12.35 percent to $18.2 billion in June.
According to the Turkish Statistical Institute (TurkStat), the gold trade brought the foreign trade deficit down by $6 billion in the first quarter of the year. However, the ministry's preliminary data suggests that gold exports did not take place in the top five exports in June as happened in May, even though it was usually featured in the top two in the first quarter's export items. On the other hand, April's $2 billion difference between the ministry's preliminary data and Turkish Exporters Assembly (TİM) data, which excludes gold, has dropped to $201 million in June, mainly due to gold exports. TİM revealed May exports as $11.7 billion, while the amount that the ministry announced was $11.9 billion. According to the ministry data, foreign trade volume declined by 10 percent in June and became $30.1 billion, and the ratio of imports offset by exports went up from 61.2 percent in June 2014 to reach 65.5 percent in June 2015.