Turkey Posts Trade Deficit in November

According to the provisional data, produced with the cooperation of Turkish Statistical Institute and Ministry of Customs and Trade, in November 2012; exports increased by 24.8% and reached to $13.83 billion and imports increased by 12.5% and reached to $20.99 billion compared with November 2011. At the same month, foreign trade deficit decreased from $7.57 billion to $7.16 billion.

As compared with the same month of the previous year, exports to EU were $5.82 billion increasing by 17.8%. The proportion of the EU countries was 42.1% in November 2012 while it was 44.6% in November 2011. In November 2012, the main partner country for exports was Germany with $1.22 billion and increased by 11.1%. For exports, Germany was followed by Iraq ($1.09 billion), the United Kingdom ($0.94 billion) and United Arab Emirates ($0.81 billion). The top country for Turkey’s imports was Russia ($2.27 billion), records for imports range from China ($2.10 billion), Germany ($2.01 billion) and Italy ($1.20 billion).

Calendar adjusted exports increased by 13.1% and imports decreased by 0.3% compared with November 2011. Seasonally and calendar adjusted exports decreased by 2.5% and imports increased by 0.7% compared with previous month. In November 2012 exports coverage imports was 65.9% while it was 59.4% in November 2011.

Turkstat | Nuno Fontes | nuno@tradingeconomics.com
12/28/2012 8:51:28 AM