Part 6/8:
Turkey faces the persistent challenge of being a net importer, leading to a widening trade deficit. As of December 2024, the deficit rose to $8.8 billion, highlighting Turkey's struggle to balance its trade despite improvements in other areas. The currency, the Lira, has depreciated significantly against the US dollar, falling by over 18% in the past year. This currency devaluation exacerbates the price of imports, further fueling inflation.