Turkish Trade Deficit Narrows 31.9% YoY in May

Trade gap in Turkey decreased by 31.9 percent to USD 4.97 billion in April from USD 7.22 billion a year earlier, as exports slightly increased and imports declined.

In April, exports were USD 13.392 billion, a 0.2 percent increase compared to the same month a year earlier. Shipments to the EU-28 decreased by 10.4 percent to USD 5.284 billion. The proportion of the EU countries was 39.5 percent in April 2015, while it was 44.1 percent in April 2014. The main export partner was Germany with USD 1.14 billion, followed by the United Kingdom (USD 800 million) and Iraq (USD 789 million).

Imports were USD 18.358 million, a 11.1 percent decrease compared with April 2014.  The top country for imports was China (USD 1.912 billion), followed by Germany (USD 1.900 billion), Russia (1.638 billion) and the US (USD 1.333 billion). 

In April of 2015, exports coverage imports was 73.0 percent, compared to 64.7 percent in April 2014.

Turkish Trade Deficit Narrows 31.9% YoY in May

Turkstat l Rida Husna l rida@tradingeconomics.com
5/29/2015 9:27:48 AM