Turkish Trade Deficit Widens 18.7% in 2013

In December of 2013, Turkish trade deficit widened to USD 9.92 billion as exports fell 7 percent over the previous month, hurt by a weakening lira. Full 2013 trade deficit widened 18.7 percent over 2012 and reached USD 99.78 billion.

In December, exports rose 4.9 percent on the year to USD 13.2 billion. Turkish main export partner was Iraq with shipments valued at USD 1.22 billion, a 19.4 percent rise over a year earlier. Germany comes in second place (USD 1.16 billion), followed by the United Kingdom (USD 719 million) and Italy (USD 571 million).

In the last month of the year, Turkey exported mostly vehicles other than railway or tramway rolling-stock (USD 1.48 billion) and boilers, machineries and mechanical appliances (USD 1.17 million).

Imports increased 16.7 percent in the last month of 2013 over a year earlier to USD 23.14 billion. On a monthly basis, purchases rose 8.1 percent. Germany was the top import partner with imports valued at USD 2.48 billion. Record purchases were observed for Russia (USD 2.44 billion), China (USD 2.15 billion) and Italy (USD 1.13 billion). Top imports were recorded for mineral fuels and oils (USD 5.22 billion).

Considering full 2013, exports decreased 0.4 percent yoy to USD 151.87 billion and imports rose 6.4 percent to USD 251.65 billion. 

Turkish Trade Deficit Widens 18.7% in 2013

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
1/31/2014 11:18:32 AM