Energy import bill tops $18 billion in first quarter of 2025

ISTANBUL

Türkiye's energy import bill increased by 6.4 percent to $5.86 billion in March compared to the same month last year.

The country's energy import bill totaled $5.11 billion last March.

In the first quarter of the year, the energy import bill amounted to $18.3 billion, rising 3.1 percent from the same period of 2024.

The latest data from the statistics authority TÜİK showed earlier this week that the overall import bill for the month, including energy and other items, totaled $30.6 billion.

At $5.86 billion, energy accounted for 19.6 percent of the overall import figures in Türkiye in March.

Crude oil imports saw a 6.6 percent decrease to 2.5 million tons, compared to 2.68 million tons in March 2024.

Oil prices are important for a country like Türkiye, which is dependent on imported energy.

Concerns over the global economy have been pressuring oil prices for some time.

This week, Finance Minister Mehmet Şimşek said lower oil prices will help keep disinflation on track and reduce the current account deficit.

“If the oil prices remain at their current level, they will reduce the current account deficit by $7-8 billion,” Şimşek said.