Turkey’s exports and imports fall in September

According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports decreased in September. Exports fell by 5.6% to $10.935 billion and imports were down 0.7% to $15.296 billion in September from a year earlier. Turkey’s foreign trade deficit, meanwhile, rose by 14.1% to $4.362 billion.

The country’s seasonally and calendar adjusted exports fell by 3% while imports were up 3.1% in September compared with the previous month. Turkey’s calendar adjusted exports moved down by 6.6% while imports increased 1.4% from a year earlier.

Turkey’s exports to the European Union increased 0.4% on the year to $5.484 billion in September from $5.460 billion in the same month of 2015. Germany became Turkey’s top export destination, with exports reaching $1.137 billion. Germany was followed by United Kingdom ($784 million), Italy ($653 million), and Iraq ($575 million) as the main destinations for Turkish exports.

In September, China remained the largest source of Turkey’s imports, with imports worth $2.221 billion. China was followed by Germany ($1.668 billion), Russia ($1.47 billion) and Italy ($699 million) in the list of the largest exporters to Turkey.