Turkey's trade deficit jumped by 108.8 percent to USD 9.07 billion in January 2018 from USD 4.34 billion in the same month a year ago.
Imports grew sharply by 38 percent year-on-year to USD 21.52 billion, driven by higher purchases of intermediate goods (40.6 percent), capital goods (26.5 percent), and consumption goods (34.6 percent). Among major trading partners, imports increased from China (17.6 percent), Russia (38.5 percent), Germany (37.3 percent), the US (52.7 percent), Italy (23.1 percent) and France (52.3 percent).
Exports rose at a slower 10.7 percent to USD 12.46 billion, boosted by higher sales of manufactured products (10.1 percent), agriculture, hunting and forestry (14.5 percent), and mining and quarrying (29.7 percent). Among major trading partners, exports rose to Germany (20.1 percent), the UK (10.6 percent), Italy (19.9 percent), the US (16.2 percent), Spain (30.1 percent) and France (16.4 percent), but fell to Iraq (-6.4 percent).
2/28/2018 11:56:57 AM