Turkey's foreign trade deficit dips in October

Country's deficit narrows to $6.2 billion after a significant rise in exports, while imports slips.

Turkey's foreign trade deficit dips in October

World Bulletin/News Desk

Turkey's foreign trade deficit shrank for the second consecutive month in October, the Turkish Statistical Institute said Friday.

In October, the country's foreign trade deficit declined from $7.4 billion in same month of last year to $6.2 billion, a drop of 15.8 percent, according to Turkstat figures.

The deficit in first ten months of the year also declined, from $82.7 billion to $67.6 billion, an 18.32 percent drop from last year's figure.

October’s exports amounted to $12.9 billion, a 7.3 percent increase year-on-year, while imports declined to $19.2 billion, a 1.5 percent decrease.

Also, despite intensifying worries over the EU economy, Turkey’s exports to the European Union did not slacken, instead rising by 8.1 percent to $5.7 billion in October compared with $5.3 billion in the same month of 2013.

In The Anadolu Agency's "Foreign Trade Expectation Survey," economists have forecast Turkey’s foreign trade deficit in October to stand at $6.6 billion.

 

Last Mod: 28 Kasım 2014, 14:22
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