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Turkey’s exports, imports increase in July

by ChemOrbis Editorial Team -
  • 30/08/2017 (12:59)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports increased in July. Exports rose by 28.3% to $12.641 billion while imports climbed by 46.2% to $21.484 billion in July from a year earlier. Turkey’s foreign trade deficit, meanwhile, moved notably higher by 82.5% to $8.843 billion.

The country’s seasonally and calendar adjusted exports decreased by 1.6% while imports increased by 5.3% in July compared with the previous month. Turkey’s calendar adjusted exports and imports were also up by 16.5% and 25.1%, respectively from a year earlier.

Turkey’s exports to the European Union increased by 18.2% on the year to $5.985 billion in July from $5.065 billion in the same month of 2016. Germany became Turkey’s top export destination, with exports reaching $1.215 billion. Germany was followed by UAE ($1.098 billion), the United Kingdom ($811 million) and Iraq ($773 million) as the main destinations for Turkish exports.

In July, China remained as the largest source of Turkey’s imports, with imports worth $2.134 billion. China was followed by Germany ($1.828 billion), Russia ($1.799 billion) and the USA ($1.375 billion) in the list of the largest exporters to Turkey.
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