Turkey Trade Deficit Narrows 30.3% in April

Turkish trade gap shrank to USD 7.2 billion in April of 2014 from USD 10.4 billion a year earlier, as exports rose 7.9 percent and imports fell 9.5 percent.

According to the provisional data, exports amounted to USD 13.5 billion in April and imports reached USD 20.7 billion.

Year-on-year, sales to the EU-28 increased by 20.5 percent from USD 4.9 billion to USD 5.9 billion. The main export partner was Germany, followed by Iraq, the United Kingdom and Italy. The major exports category was manufacturing, accounting for USD 12.6 billion, followed by agriculture and forestry (USD 0.4 billion), mining and quarrying (USD 0.3 billion). The ratio of manufacturing products in total export was 93.8 percent in April and the ratio of high-technology products in manufacturing industries was 3.8 percent.

In April of 2014, the top country for shipments was Russia, followed by Germany, China and the United States.

On a monthly basis, the non-seasonally adjusted trade deficit widened 38.8 percent in April, due to an 8.8 percent fall in exports.

Turkey Trade Deficit Narrows 30.3% in April

Turkstat | Isabel Felino | isabel.felino@tradingeconomics.com
5/30/2014 9:55:15 AM