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Turkey’s exports up, imports down in October

by ChemOrbis Editorial Team -
  • 30/11/2018 (10:47)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports were at $15.7 billion with a 13% increase and imports stood at $16.1 billion with a 23.8% decrease compared with the previous year.

Turkey’s foreign trade deficit contracted by 93.8% to $456 million dollars in October. The country’s exports coverage ratio to imports stood at 97.2% while it was 65.6% in October 2017.

The country’s seasonally and calendar adjusted exports and imports decreased by 1.5% and 6.9%, respectively compared with the previous month. Compared with October 2017, the country’s calendar adjusted exports increased by 9.7%, while imports decreased by 24.2%.

Turkey’s exports to the European Union increased by 13.8% from $6.87 billion to $7.82 billion, making up 49.8% of Turkey’s total exports. Germany remained as Turkey’s top export destination in October, with exports standing at $1.45 billion, followed by the United Kingdom ($1.68 billion), Italy ($877 million) and Iraq ($852 million).

In October, the top country for Turkey’s imports was Russia with $1.86 billion. Russia was followed by Germany ($1.59 billion), China ($1.36 billion) and the USA ($833 million) in the list of the largest exporters of Turkey.
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