Turkey Trade Deficit Narrows in October

Turkish trade gap decreased to USD 6.25 billion in October of 2014 from a USD 7.42 billion shortfall a year earlier, driven by higher exports.

Exports increased 7.3 percent year-on-year to USD 12.93 billion in October of 2014. Sales to the European Union increased by 8.1 percent from USD 5.285 billion to USD 5.711 billion.

92.6 percent of total shipments were manufactured products. Sales of low-technology goods increased the most by 12.8 percent, accounting for 36.9 percent of total manufacturing exports. Medium-low-tech sales grew 6.6 percent with a 28.2 percent share and medium-high-tech exports which accounted for 31.1 percent rose 1.9 percent. 

Imports fell by 1.5 percent year-on-year to USD 19.185 billion. China was the country’s main import partner in October, accounting for 14.5 percent of total purchases. 

Turkey Trade Deficit Narrows in October

Turkstat | Ricardo Martins | ricardo.martins@tradingeconomics.com
11/28/2014 9:14:48 AM