Turkey’s foreign trade deficit dips in October

Turkey’s foreign trade deficit dips in October

Turkey’s trade deficit fell to $6.25 billion in October from $7.43 billion in October 2013, the Turkish Statistical Institute (TÜİK) revealed on Nov. 28.

Exports rose by 7.3 percent to $12.93 billion and imports fell 1.5 percent to $19.19 billion, the data showed.

In the first 10 months of the year, the trade deficit fell 18.2 percent to $67.61 billion.

Also, despite intensifying worries over the EU economy, Turkey’s exports to the European Union did not slacken, instead rising by 8.1 percent to $5.7 billion in October compared to $5.3 billion in the same month of 2013.

In October 2014, Turkey’s main partner country for exports was Germany with $1.283 billion, followed by the United Kingdom with $860 million, Iraq with $857 million and Italy with $566 million.

The top country for imports to Turkey was China.