Turkish Trade Deficit Widens YoY in June


In June, Turkey's trade deficit widened to $8.57 billion from a $7.21 billion deficit registered in the same month of 2012. This is due to a fall in exports, down 6.0 percent from the previous year, and a rise of imports, up by 2.8 percent.

Shipments to the European Union increased by 5.3 percent when compared to the previous year and accounted for 41.6 percent of total Turkish exports. The main partner for exports was Germany with $1.15 billion worth of sales, an increase of 3.5 percent. 

In the same month, the top importer was China ($2.07 billion), followed by Germany ($1.99 billion), Russia ($1.89 billion) and Switzerland ($1.48 billion). 

By category, Turkey's major shipments by value were vehicles other than railway ($1.45 billion), followed by boilers, machinery and mechanical appliances ($1.06 billion), iron and steel ($0.82 billion) and knitted and crocheted goods and articles (0.79 billion).

In the same period, the top categories for imports were mineral fuels and oils ($4.18 billion), followed by boilers, machinery and mechanical appliances ($2.56 billion), precious stones, precious metals and pearls ($2.13 billion) and iron and steel ($1.55 billion).

Turkstat | Nuno Fontes | nuno@tradingeconomics.com
7/31/2013 10:20:08 AM