Turkish Trade Deficit Edges Down in November

In November, Turkey's trade deficit narrowed slightly to $7.15 billion from $7.19 billion in the same month of the previous year. Both exports and imports were up on an annual basis but shipments grew at a faster pace than inflows.

Exports amounted to $14 billion, a 3.6 percent increase compared with November of 2012. Vehicles other than railway or tramway rolling-stock has the highest value exported at $1.7 billion, followed by boilers, machinery and mechanical appliances ($1.2 billion), electrical machinery and equipment ($935 million) and knitted and crocheted goods ($919 million). 

The main partner country for exports was Germany with $1.4 billion and increased by 12.4 percent. Germany was followed by Iraq ($1.2 billion), the United Kingdom ($898 million) and Russia (655 million). Sales to the EU-28 increased by 8.7 percent from $5.8 billion to $6.3 billion. The proportion of the EU countries was 44.1 percent in November 2013, while it was 42 percent in November 2012.

Imports were $21.4 billion, a 2.2 percent increase compared with November 2012. The top country for Turkey’s imports was Russia ($2.3 billion), followed by Germany ($2.1 billion), China ($2.1 billion) and Italy ($1.1 billion).

Turkish Trade Deficit Edges Down in November

Turkstat | Nuno Fontes | nuno@tradingeconomics.com
12/31/2013 8:56:28 AM