Turkey Trade Gap Narrows 32.5% YoY in July


Turkey's trade deficit declined by 32.5 percent to $4.79 billion in July of 2016, compared to a $7.1 billion gap a year earlier. Exports went down 11.5 percent to $9.8 billion, due to lower sales of manufacturing products. Imports shrank 19.7 percent to $14.64 billion, mainly driven by decreases in purchases of intermediate, capital and consumption goods.

Exports went down 11.5 percent to $9.8 billion, due to lower sales of manufacturing products (-10.8 percent); agriculture and forestry (-23.1 percent), mining and quarrying (-20.1 percent). The main partner country for exports was the United Kingdom ($0.98 billion), Germany ($0.96 and Italy ($0.55 billion).

Imports shrank 19.7 percent to $14.64 billion, mainly driven by decreases in purchases of intermediate (-20.8 percent), capital (-10.6 percent) and consumption (-24.2 percent) goods. The top import partners were China ($1.9 billion), Germany ($1.7 billion), Russia ($1.1 billion) and Italy ($0.8 billion).

In the first seven months of 2016, the trade deficit narrowed 18.9 percent to $32.79 billion from $40.4 billion in the same period of 2015, as exports fell 3.6 percent while imports declined at a faster 8.6 percent.

Turkey Trade Gap Narrows 32.5% YoY in July


Yekaterina Guchshina | yekaterina@tradingeconomics.com
8/31/2016 8:48:01 AM