Turkey’s Trade Deficit Widens 17% YoY In August

In August of 2013, Turkish trade deficit increased to USD 7.1 billion, from USD 5.9 billion a year earlier, as exports dropped 12.9 percent.

In August, exports amounted to USD 11.2 billion, a 14.5 percent contraction compared with the previous month, and a drop of 12.9 percentage over a year earlier. Exports of vehicles other than railway showed the highest value, followed by boilers, machineries and mechanical appliances, and knitted and crocheted goods and articles.

Shipments to the European Union increased by 6.8 percent year-on-year. Turkey’s main export partner was Germany, followed by Iraq and the UK.

Imports amounted to USD 18.2 billion in August, a 20.8 percent contraction compared with July, and a 3.4 percent decrease compared with August last year. The top categories for imports were mineral fuels and oils, followed by boilers, machinery and mechanical appliances and iron and steel.

In August of 2013, the top country for Turkey’s imports was Russia, followed by China, Germany and Italy.

Turkey’s Trade Deficit Widens 17% YoY In August

Turkish Statistical Institute | Krisztina Györffy | krisztina@tradingeconomics.com
9/30/2013 10:42:35 AM