Turkey Trade Gap Narrows in April


Turkey's trade deficit shrank by 55.6 percent to USD 2.98 billion in April 2019 from USD 6.71 billion in the corresponding month of the previous year. Exports rose 4.6 percent while imports tumbled 15.1 percent.

Exports grew 4.6 percent from a year earlier to USD 14.5 billion in April 2019, as shipments of manufactured products, which accounted for 95 percent of total sales, rose 5.1 percent. Also, exports of mining and quarrying advanced 2.7 percent, while those of agriculture, hunting and forestry fell 10.2 percent. Among major trading partners, exports increased mainly to Iraq (18.6 percent), the US (15.6 percent), Spain (0.4 percent), Israel (9.9 percent), the UAE (40.2 percent) and Saudi Arabia (40.8 percent), but decreased to Germany (-8.8 percent), the UK (-3.6 percent) and Italy (-0.8 percent).

Imports plunged 15.1 percent to USD 17.5 billion in April 2019. Purchases of intermediate goods, which accounted for 80.2 percent of total imports, declined 9.8 percent; and those of capital and consumption goods slumped 25.9 percent and 37.8 percent, respectively. Among major trading partners, imports declined primarily from Russia (-1.6 percent), China (-18.1 percent), Germany (-26.5 percent), the US (-14.7 percent), Italy (-23.6 percent), France (-20.3 percent), India (-18.8 percent), Iran (-37.8 percent), the UK (-14.6 percent), South Korea (-27.8 percent). In contrast, they increased from the UAE (12.8 percent).

Turkey Trade Gap Narrows in April


Turkish Statistical Institute | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/31/2019 8:29:04 AM