Turkey's Trade Deficit Widens in October
In October, Turkish trade deficit increased to USD 7.37 billion from USD 5.6 billion in October of 2012, as exports reported a sharp drop, while imports went up remarkably.
11/29/2013 9:49:09 AM
In October, exports amounted to USD 12 billion, a 8.2 percent decrease compared with October of 2012. Vehicles other than railway or tramway rolling-stock has the highest value exported at USD 1.3 billion and then, boilers, machineries and mechanical appliances, parts thereof (USD 1.1 billion), electrical machineries and equipment, parts there of (USD 0.9 billion) and iron and steel (USD 0.7 billion).
Shipments to the European Union increased by 0.2 percent over a year ago to USD 5.3 billion. The main partner country for exports was Germany, followed by Iraq, the United Kingdom and Russia.
Imports amounted to USD 19.5 billion, showing a 3.7 percent increase, year-on-year. The top categories for imports were mineral fuels and oils and then boilers, machinery and mechanical appliances, electrical machineries and equipment, iron and steel, and vehicles other than railway or tramway rolling-stock.
The top country for Turkey’s imports was China and Germany, followed by Russia and Italy.