Turkey’ Trade Deficit Narrows To Lowest in Nearly 3-1/2 Years


The trade deficit decreased in February of 2014 to USD -5.1 billion from USD -7.0 billion a year earlier and USD -6.9 billion in January of 2014. Compared with February of 2013, manufacturing exports climbed while imports of agriculture and manufactured goods decreased.

Exports amounted to USD 13.2 billion in February of 2014 (6.2 percent increase yoy) and imports were recorded at USD 18.3 billion (a 5.9 percent decrease). 

Sales to the EU-28 increased by 7.5 percent yoy, from USD 5.1 billion to USD 5.5 billion, accounting for 41.6 percent of total exports. 

The main export partner was Germany with USD 1.2 billion (an increase of 8.4 percent yoy), followed by Iraq (+20.6 percent) and United Kingdom (+7.5 percent). The top country for Turkey’s imports was Russia (+1.4 percent), followed by China (+5.4 percent), Germany (-8.2 percent) and USA (+4.1 percent).

The ratio of exports of high-technology products in manufacturing industries was 3.1 percent, while the ratio of imports of high-technology products in manufacturing industries was 13 percent. 

Turkey’ Trade Deficit Narrows To Lowest in Nearly 3-1/2 Years


Turkstat | Isabel Felino | isabel.felino@tradingeconomics.com
3/31/2014 1:12:55 PM