ANKARA, April 30 (Xinhua) -- Türkiye's foreign trade deficit declined by 12.4 percent in March from a year ago to 7.3 billion U.S. dollars, according to official data announced on Tuesday.

In the January-March period, the foreign trade deficit decreased by 41.5 percent from 34.79 billion dollars to 20.34 billion dollars, the figures of the Turkish Statistical Institute showed.

The country's exports decreased by 4.1 percent to 22.57 billion dollars in March compared to the same month last year, while imports decreased by 6.3 percent to 29.9 billion dollars.

The improvement in the annual foreign trade deficit of Türkiye has continued uninterruptedly for eight months, according to Turkish Treasury and Finance Minister Mehmet Simsek on Tuesday.

Reshaped supply chains, strategic competition and fragmentation in global trade after the COVID-19 pandemic are increasing the tendency to procure from friendly and close countries, Simsek said on social media platform X.

"With its strategic location, Türkiye is one of the countries most positively affected by these trends. We will further strengthen our position in global trade with structural reforms that will increase productivity," he said. Enditem

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