Turkish Trade Deficit Widens 85% in September

Turkey's trade deficit widened by 85 percent to USD 8.1 billion in September 2017 from USD 4.4 billion in the same month a year ago, in line with market expectations.

Year-on-year, imports jumped by 30.6 percent to USD 20.0 billion, driven by higher purchases of intermediate goods (74.3 percent), capital goods (13.6 percent) and consumption goods (11.8 percent). Among major trading partners, imports grew from Germany (14.7 percent), Russia (73.8 percent), the US (50.1 percent), Italy (26.9 percent) and Switzerland (193.5 percent), but fell from China (-3.6 percent).

Exports went up at a slower 8.7 percent to USD 11.8 billion, boosted by higher sales of manufacturing (93.3 percent), agriculture, hunting and forestry (3.6 percent) and mining and quarrying (2.4 percent). Among major trading partners, exports rose to Germany (8.9 percent), the US (37.3 percent), Iraq (14 percent) and Spain (26.9 percent), but fell to the UK (-1.8 percent) and Italy (-1.6 percent).

Considering January to September, the trade deficit went up by 27.9 percent to USD 53.8 billion from USD 42.1 billion in the same period of 2016, as imports rose 15.5 percent to USD 169.0 billion and exports increased 10.5 percent to USD 115.1 billion.

Turkish Trade Deficit Widens 85% in September

Turkish Statistical Institute l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/31/2017 11:29:49 AM