Turkish Trade Deficit Narrows 9.1% In June
Turkey's trade deficit narrowed by 9.1 percent to USD 6.01 billion in June 2017 from USD 6.61 billion in the same month a year earlier, as exports rose while imports decreased. Exports increased 2.3 percent to USD 13.17 billion, mainly driven by mining and quarrying, and manufacturing. Imports decreased 1.5 percent from the previous year to USD 19.18 billion, led by manufacturing. Considering the January-June period, the trade deficit widened by 10 percent to USD 30.87 billion from USD28.07 billion in the same period of 2016.
Year-on-year, exports went up by 2.3 percent to USD 13.17 billion, mainly boosted by sales of manufacturing (2.6 percent, 94.6 percent of total exports) and mining and quarrying (7.8 percent, 2.0 percent of exports). In contrast, sales fell for agriculture, hunting and forestry (-11.10 percent, 2.8 percent of total exports). Exports rose to Germany (6.3 percent); UAE (46.7 percent); the USA (41.3 percent), and Italy (2.9 percent).
Imports decreased by 1.5 percent to USD 19.18 billion, mainly due to a decrease in purchases of manufacturing (-4.1 percent, 84 percent of total imports). In contrast imports went up for both agriculture, hunting and forestry (33.1 percent, 4.3 percent of total imports) and mining and quarrying (20.4 percent, 9 percent of total imports).Imports went down from Germany (-27.7 percent); China ( -(26.1 percent); Russia (-6.3 percent) the USA (-38.7 percent), and Italy (-9.3 percent).
On a seasonally adjusted basis, exports increased 2.5 percent from the previous month while imports edged down 0.1 percent.
7/31/2017 10:34:30 AM