Turkey’s trade deficit widened by about 300% year-on-year last month, according to Bloomberg.

In particular, the deficit under consideration increased from $2.6 billion in September 2021 to $10.4 billion in September 2022.

Specifically, as of September 2022, imports were $33 billion and exports were $22.6 billion, with imports up 41.5% year-over-year and exports up 9.2%.

Turkey’s imports from Russia increased by 187% year-on-year in September, according to the Turkish Ministry of Commerce.

Overall, Turkey’s imports for the first nine months of 2022 reached $272 billion, compared to $193 billion for the same period in 2021.

Turkey’s reliance on energy imports from Russia has made the country especially vulnerable since Russia’s invasion of Ukraine, according to Bloomberg, according to which: The weight of Turkey’s huge electricity bills has forced Turkish authorities to look for ways to counter higher prices by covering them in rubles. part of payments for Russian natural gas and ask to defer some payments.

According to Bloomberg