Turkey Trade Deficit Narrows 14.6% in December

Turkey trade gap decreased to USD 8.506 billion in December of 2014 from a USD 9.964 billion shortfall a year earlier, due to a fall in imports.

Compared with December of 2013, imports fell 5.6 percent to USD 21.834 billion. Most imported products came from: China (USD 2.318 billion), Germany (USD 2.183 billion), Russia (USD 2.137 billion) and the USA (USD 1.116 billion).

Exports increased 1.2 percent to USD 13.328 billion. Exports to the European Union increased by 1.8 percent to USD 5.361 billion bringing the share to 40.2%. The main partner country for exports was Germany with USD 1.165 billion, followed by Iraq (USD 1.111 billion), the United Kingdom (USD 763 million) and United States (USD 722 million).

Manufactured products accounted for 91.7 percent of total exports. Sales of low-technology goods increased the most by 35.6 percent. Medium-high-tech sales grew 1.03 percent (32.9 percent share) and high-tech exports rose 4.43 percent. 

Compared to the previous month, seasonally and calendar adjusted exports increased by 0.6 percent and imports decreased by 11.1 percent. 

Turkey Trade Deficit Narrows 14.6% in December

Turkstat | Carolina Cunha | carolina.cunha@tradingeconomics.com
1/30/2015 3:33:27 PM