Turkey's foreign trade deficit widened in February

Deficit totaled $3.69 billion in February, an increase of 15 percent year-on-year

Turkey's foreign trade deficit widened in February

World Bulletin / News Desk

Turkey's foreign trade deficit widened in February as the country's import costs rose, the Turkish Statistical Institute (TurkStat) said on Friday.

The deficit increased by 15 percent to reach $3.69 billion in February 2017 compared with $3.16 billion in the same month of last year, TurkStat reported. 

Data showed that, in February, exports were down by 1.9 percent to $12.12 billion year-on-year. 

In February, Turkey's total imports rose by 1.6 percent to $15.82 billion compared to the same period of 2016, TurkStat said. 

TurkStat's report revealed that Turkey's exports to the EU declined 3.2 percent to reach $5.5 billion in February 2017 compared to last year.  

The main country for exports was Germany with trade reaching some $1.2 billion in the last month. Germany was followed by the United Arab Emirates with $938 million, Iraq with $725 million and the U.K. with $702 million.

In the same period, China was the top country for Turkish imports -- worth $1.64 billion. Imports from Germany were $1.43 billion; from Russia $1.30 billion and from France $767 million.

Last Mod: 31 Mart 2017, 12:30
Add Comment