Turkey Trade Deficit Narrows to USD 7.85 Billion

In June of 2014, the Turkish trade gap decreased to USD 7.85 billion from a USD 8.61 billion shortfall a year earlier, due to a fall in imports.

Year-on-year, exports increased 4.2 percent to USD 12.9 billion, as sales to the European Union surged 14.7 percent. The country’s main export partner was Germany, followed by the United Kingdom, Iraq and France.

Imports fell by an annual 1.1 percent to USD 20.7 billion. The top country for Turkey’s imports was Russia, followed by China, Germany and Italy.

On a monthly basis, the trade deficit widened 9.9 percent. Seasonally and calendar adjusted exports decreased by 0.1 percent and imports fell 1.2 percent. 

Considering the frst six months of the year, the trade gap narrowed 21.9 percent to USD 39.7 billion as exports rose 6.7 percent over a year earlier while imports shrank 4.8 percent. 

Turkey Trade Deficit Narrows to USD 7.85 Billion

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
7/25/2014 8:52:23 AM