Turkey's foreign trade deficit widens

Turkey's foreign trade deficit in the first 7 months of 2017 increased by 20.7 percent year-on-year, TurkStat says

Turkey's foreign trade deficit widens

World Bulletin / News Desk

Turkey's foreign trade deficit in the first seven months of the year increased by 20.7 percent year-on-year, the Turkish Statistical Institute (TurkStat) announced on Tuesday.

Foreign trade statistics revealed that Turkey's exports between January and July 2017 reached about $90 billion with a 10.6 percent yearly increase.

In the same period, the country's imports rose 13.5 percent to $129.8 billion, marking a seven-month foreign trade deficit of $39.7 billion, a 20.7 percent hike.

The proportion of imports covered by exports was 69.4 percent in the period of January-July this year, while it was 71.2 percent during the same period of 2016.

Germany was Turkey's largest export market at $8.44 billion, followed by the United Arab Emirates st $6.66 billion and Iraq at $5.39 billion.

The U.K. ($5.38 billion) and the U.S. ($5.06 billion) were other major recipients of Turkish exports over the same period.

Imports mostly came from China ($12.9 billion), followed by Germany ($11.32 billion) and Russia ($10.52 billion).

Güncelleme Tarihi: 30 Ağustos 2017, 12:08
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