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Turkey’s exports decrease, imports increase in October

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/11/2016 (14:24)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports decreased while imports increased in October. Exports fell by 3% to $12.891billion and imports were up by 0.5% to $17.004 billion in October from a year earlier. Turkey’s foreign trade deficit, meanwhile, rose by 13.2% year-on-year.

The country’s seasonally and calendar adjusted exports rose by 2.5% while imports were down by 1.7% in October compared with the previous month. Turkey’s calendar adjusted exports moved down by 0.3% while imports increased by 1.1% from a year earlier.

Turkey’s exports to the European Union decreased by 0.8% on the year to $6.211billion in October from $6.262 billion in the same month of 2015. Germany became Turkey’s top export destination, with exports reaching $1.308 billion. Germany was followed by United Kingdom ($1.049 billion), Iraq ($774 million), and Italy ($739 million) as the main destinations for Turkish exports.

In October, China remained the largest source of Turkey’s imports, with imports worth $2.214 billion. China was followed by Germany ($1.757 billion), Russia ($1.204 billion) and Italy ($850 million) in the list of the largest exporters to Turkey.
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