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Turkey’s exports down, imports up in February

by ChemOrbis Editorial Team - content@chemorbis.com
  • 31/03/2017 (12:33)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports decreased while imports increased in February. Exports were down by 1.9% to $12.127 billion while imports were up by 1.6% to $15.820 billion in February from a year earlier. Turkey’s foreign trade deficit also rose by 15% year-on-year to $3.693 billion.

The country’s seasonally and calendar adjusted exports rose by 1.8% while imports were up by 1.7% in February compared with the previous month. Turkey’s calendar adjusted exports and imports moved up by 0.7% and 5.5% respectively from a year earlier.

Turkey’s exports to the European Union decreased by 3.2% on the year to $5.539 billion in February. Germany became Turkey’s top export destination, with exports reaching $1.119 billion. Germany was followed by UAE ($938 million), Iraq ($725 million) and the UK ($702 million) as the main destinations for Turkish exports.

In February, China remained the largest source of Turkey’s imports, with imports worth $1.643 billion. China was followed by Germany ($1.439 billion), Russia ($1.304 billion) and France ($767 million) in the list of the largest exporters to Turkey.
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