Turkey Trade Deficit Narrows 34.8% in July
In July of 2014, the Turkish trade gap decreased to USD 6.46 billion from a USD 9.90 billion shortfall a year earlier, as imports fell much faster than the increase of exports.
Year-on-year, exports increased 2.6 percent to USD 13.4 billion, as sales to the European Union, accounting for 45 percent of total outward shipments, surged 11.1 percent to USD 5.4 billion. The country’s main export partner was Germany, followed by the United Kingdom, Iraq and Italy.
8/29/2014 8:38:20 AM
Imports fell by an annual 13.5 percent to USD 19.8 billion. The top country for Turkey’s imports was Russia, followed by China, Germany and the US.
Seasonally and calendar adjusted exports increased by 8 percent and imports rose 0.4 percent as compared to the previous month.