Turkey’s trade deficit grows in first four months
ANKARA – Anadolu Agency
Turkey’s foreign trade balance showed a $27.4 billion deficit from January to April, a yearly increase of 56.2 percent, the country’s statistical authority announced on May 31.
The Turkish Statistics Institute (TÜİK) data showed that the country’s exports totaled some $55 billion in the same period, a year-on-year rise of 8.6 percent. Imports rose 20.8 percent to $82.5 billion.
“In April 2018, exports were $13.9 billion, marking a 7.8 percent increase and imports were $20.6 billion, a 15.6 percent increase compared with the same month last year,” the institute stated.
“Last month the foreign trade deficit was $6.7 billion, with a 35.6 percent yearly increase. Exports coverage of imports was 67.5 percent, while it was 72.3 percent in April 2017,” it added.
Turkey’s exports to European Union countries showed a 21.5 percent annual hike in the same period.
TÜİK noted that EU member countries’ share of Turkey’s exports was 51.5 percent in the four-month period, reaching $28.4 billion, while imports from the 28-member EU bloc were $30.3 billion, up 23.3 percent annually.