Turkish Trade Deficit Widens 52.4% in November
Turkey's trade deficit widened by 52.4 percent to USD 6.3 billion in November 2017 from USD 4.1 billion in the same month a year ago. Imports jumped 21.3 percent while exports grew only 11.2 percent.
Year-on-year, imports surged by 21.3 percent to USD 20.5 billion, driven by higher purchases of intermediate goods (up 28.9 percent; 72.8 percent of total imports), capital goods (up 2.2 percent, 13.9 percent of total imports), and consumption goods (up 6.7 percent, 13 percent of total imports). Among major trading partners, imports grew from Germany (8.7 percent), Russia (47.3 percent), the US (25.3 percent), Italy (15.8 percent), and France (30.1 percent), but fell from China (-1 percent).
Exports rose at a slower 11.2 percent to USD 14.2 billion, boosted by higher sales of manufacturing (up 12 percent; 92.8 percent of total exports) and mining and quarrying (up 9.4percent; 2 percent of total exports). Among major trading partners, exports rose to Germany (11.3 percent), the US (23.1 percent), Italy (14.1 percent), and the UK (4.3 percent), but fell to Iraq (-21.1 percent).
Considering January to November, the trade deficit went up by 33.8 percent to USD 67.5 billion from USD 50.5 billion in the same period of 2016, as imports rose 16.9 percent to USD 210.7 billion and exports increased 10.4 percent to USD 143.2 billion.
On a seasonally adjusted basis, exports increased 1.6 percent from the previous month while imports fell 2.4 percent.
12/29/2017 7:35:58 AM