Turkey Trade Gap Widens In April


Turkey's trade deficit increased to $4.95 billion in April of 2017, compared to a $4.2 billion gap a year earlier. Exports increased by 7.4 percent to $12.8 billion, mainly driven by mining and quarrying, and manufacturing. Imports rose 9.9 percent to $17.8 billion, led by mining and quarrying and manufacturing. Considering the first four months of the year, the trade deficit widened by 7.1 percent to $17.5 billion.

Year-on-year, exports went up by 7.4 percent to USD 12.8 billion, mainly boosted by sales of manufacturing (7.9 percent, 94.1 percent of total exports) and mining and quarrying (35.8 percent, 2.6 percent of exports). In contrast, sales fell for agriculture, hunting and forestry (- 20.4 percent, 2.7 percent of total exports) and fisheries (-3.3 percent, 0.2 percent of total exports). Exports rose to UAE (237.5 percent), Iraq (51.1 percent); the USA (24.3 percent) and Italy (12.7 percent). 

Imports rose by 9.9 percent to USD 17.8 billion, mainly driven by purchases of mining and quarrying (48 percent, 11.5 percent of total imports); manufacturing (4.5 percent, 80.5 percent of total imports) and agriculture, hunting and forestry (13.1 percent, 4.7 percent of total imports). Imports went up from Russia (29.9 percent); Iran (105.3 percent); Spain (28.2 percent) and UAE (87.6 percent).

On a seasonally adjusted basis, exports decreased 2.7 percent from the previous month while imports increased 1.6 percent.

Turkish Statistical Institute l Yekaterina Guchshina | yekaterina@tradingeconomics.com
5/31/2017 9:17:36 AM