Turkey Trade Gap Little-Changed in August


Turkey's trade deficit rose slightly by 1.2 percent to USD 2.50 billion in August 2019 from USD 2.47 billion in the corresponding month of the previous year. Exports increased 1.6 percent and imports went up 1.5 percent. From January to August, the country's trade gap narrowed considerably by 58.2 percent to USD 20.58 billion.

Exports advanced 1.6 percent from a year earlier to USD 12.52 billion in August, as shipments of manufactured products, which accounted for 95.3 percent of total sales, rose 2.0 percent. Also, exports of mining & quarrying and fisheries rose 2.1 percent and 8.1 percent, respectively; while those of agriculture, hunting and forestry tumbled 14.7 percent. Among major trading partners, exports rose to Germany (0.1 percent), the UK (14.2 percent), Iraq (0.6 percent), Italy (22.2 percent), Spain (7.0 percent), France (15.7 percent) and the Netherlands (34.3 percent). In contrast, shipments decreased to the US (-2.9 percent).

Imports went up 1.5 percent to USD 15.02 billion in August. Purchases of intermediate goods, which accounted for 79.3 percent of total imports, grew 2.7 percent, but those of capital goods and consumption goods declined 6.5 percent and 0.2 percent, respectively. Among major trading partners, imports advanced from Russia (30.8 percent), France (4.1 percent) and Iraq (410.9 percent) while decreased from China (-1.8 percent), Germany (-0.4 percent), the US (-10.6 percent), Italy (-10.6 percent), India (-16.1 percent) and South Korea (-11.6 percent).


Turkey Trade Gap Little-Changed in August


Turkish Statistical Institute | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/30/2019 7:58:44 AM