Turkey Trade Gap Widens 14% YoY in September

Turkey's trade deficit increased to $4.36 billion in September of 2016, compared to a $3.8 billion gap a year earlier. Exports fell 5.6 percent, dragged down by manufacturing and agricultural sales. Imports declined at a slower 0.7 percent, led by mining and quarrying and fisheries purchases.

Year-on-year, exports decreased to $10.935 billion, mainly dragged down by a 5.9 percent slump in sales of manufactured products which accounted for 94 percent of total sales. Among manufacturing, medium-low-technology products accounted for 26 percent and decreased 15 percent; high-technology products accounted for 3.4 percent and fell 26 percent; while medium-high-technology products represented 34.6 percent rose 0.4 percent. In addition, shipments of agriculture, hunting and forestry went down 8 percent while increased for fisheries (+22.1 percent) and mining and quarrying (+13.4 percent). Germany was the main export partner (10.4 percent share), followed by the United Kingdom (7.2 percent)), Italy (6 percent) and Iraq (5.3 percent).

Imports edged down to USD 15.29 billion, mainly due to a 35.5 percent drop in purchases of manufacturing and a 41.9 percent fall in fisheries. In contrast, imports rose for agriculture, hunting and forestry (+32.2 percent) and manufacturing (+3.5 percent). China was the main import partner (14.5 percent share), followed by Germany (10.9 percent), Russia (6.8 percent) and Italy (4.6 percent). 

On a seasonally adjusted basis, exports went down 3 percent from the previous month while imports increased 3.1 percent. 

Turkey Trade Gap Widens 14% YoY in September

Turkstat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
10/31/2016 9:46:30 AM