Turkey's foreign trade deficit falls 77.1 pct in Sept.

TurkStat says foreign trade deficit amounts to $1.87B in September, down from $8.17B in same month last year

Turkey's foreign trade deficit falls 77.1 pct in Sept.

Turkey's foreign trade deficit saw an annual fall of 77.1 percent in September, the country's statistical authority announced on Wednesday.

Last month, Turkey's exports went up 22.4 percent year-on-year to $14.45 billion, while imports decreased by 18.3 percent to $16.3 billion.

In September, the country's foreign trade deficit amounted to $1.87 billion, down from $8.17 billion in the same month last year.

"In September 2018, exports coverage imports was 88.5 percent while it was 59.1 percent in September 2017," TurkStat said.

Official data showed that Germany with $1.42 billion was the top market for Turkish exports last month. 

"The country was followed by the U.K. with $1.05 billion, Italy with $816 million and Iraq with $719 million," TurkStat said.

The institute said the top country for Turkey’s imports was Russia with $1.7 billion in September, followed by China ($1.5 billion), Germany ($1.4 billion) and the U.S. with $1.1 billion.