Turkish Trade Deficit Stable in March

In March, Turkey's trade gap was slightly up to $5.20 billion from $5.16 billion in February and narrowed from $7.44 billion in the same month of 2013. Exports increased by 12.4 percent yoy while imports fell 3.2 percent yoy.

Exports were registered at $14.75 billion, a 12.4 percent monthly increase and imports reached $19.9 billion, a 3 percent decrease compared with March 2013.

Shipments to the European Union increased by 13.5 percent when compared to the previous year and accounted for 40.9 percent of total exports. The main partner for exports was Switzerland (with $1.36 billion worth of sales) followed by Germany $1.33 billion and Iraq ($1.0 billion).

By category, Turkey's major shipments by value were intermediate goods ($7.71 billion), followed by consumption goods ($5.56 billion) and capital goods ($1.44 billion).

In the same period, the top country for imports was Russia ($2.181 billion), followed by China ($2.04 billion), Germany ($1.98 billion) and the United States ($1.14 billion). 

Turkish Trade Deficit Stable in March

Turkstat | Nuno Fontes | nuno@tradingeconomics.com
4/30/2014 9:12:05 AM