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Turkey’s exports, imports increase in January

by ChemOrbis Editorial Team -
  • 28/02/2017 (13:47)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports increased in January. Exports were up by 18.1% to $11.278 billion and imports were up by 15.9% to $15.586 billion in January from a year earlier. Turkey’s foreign trade deficit also rose by 10.3% year-on-year to $4.309 billion.

The country’s seasonally and calendar adjusted exports rose by 4.5% while imports were up by 0.6% in January compared with the previous month. Turkey’s calendar adjusted exports and imports moved up by 17% and 9% respectively from a year earlier.

Turkey’s exports to the European Union increased by 12% on the year to $5.302 billion in January from $4.734 billion in the same month of 2016. Germany became Turkey’s top export destination, with exports reaching $1.122 billion. Germany was followed by Iraq ($684 million), United Kingdom ($676 million) and the UAE ($655 million) as the main destinations for Turkish exports.

In January, China remained the largest source of Turkey’s imports, with imports worth $1.851 billion. China was followed by Russia ($1.480 billion), Germany ($1.187 billion) and the USA ($734 million) in the list of the largest exporters to Turkey.
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