Foreign trade deficit rises to $10.3 bln in April

Foreign trade deficit rises to $10.3 bln in April

Turkey’s foreign trade deficit jumped to $10.3 billion in April from $6.6 billion from the same month a year earlier, representing a 55.1 percent increase, according to figures revealed by state-run statistics body TÜİK today.

Exports fell to $12.5 billion, a 0.9 percent decrease, from April 2012 to April 2013, while imports rose to $22.8 billion – an 18.4 percent increase.

The export coverage of imports fell to 54.9 percent from 65.5 percent during the same period.

Exports to the European Union rose to $4.9 billion, a 2.8 percent increase, during the period in question.

The main partner country for exports remained Germany with $1 billion in trade, although the figure represented a 4.2 percent fall. Iraq ranked second at $919 million, followed by the United Kingdom at $630 million and Italy at $614 million. The top country for Turkey’s imports was also Germany at $2.1 billion, followed by China at $2 billion, Russia at $1.9 billion and Switzerland at $1.6 billion.

Meanwhile, Turkish Exporters Assembly (TİM) launched its webtv, called TİMTV, which will include many stories and videos on Turkish and global economy and companies, to build an online bridge between Turkish exporters and their counterparts around the world on May 30. “There is Turkish exporters’ success behind Turkey’s recent economic miracle. TİMTV will play a critical role in Turkish exporters’ knowing global markets better and opening to new markets,” Turkish Economy Minister Zafer Çağlayan said at the opening ceremony of TİMTV.