Turkey’s trade deficit widens in October

Turkey’s trade deficit widens in October

ANKARA – Anadolu Agency
Turkey’s trade deficit widens in October Turkish exports fell by 3 percent year-on-year in October while imports rose by 0.5 percent over the same period, the Turkish Statistical Institute (TÜİK) said on Nov. 30.

The monthly trade deficit rose by 13.2 percent to $4.16 billion.      

Exports for October were valued at $12.84 billion and the country imported goods and services worth $17 billion.      

Exports fell by 2.8 percent to $120.4 billion in the first 10 months of 2016, according to TÜİK.    
Exports to the EU, Turkey’s main trading partner, saw a 0.8 percent drop in October to $6.2 billion. Germany was the largest receiver of Turkish goods and services - receiving $1.3 billion - followed by the U.K. with $1.05 billion.

Turkish imports from China stood at $2.2 billion in October. Imports worth $1.75 billion came from Germany, while Russia provided more than $1.2 billion in goods and services.