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Turkey’s foreign trade statistics announced for August

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/09/2015 (11:06)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports both declined in August. Exports fell 2.8% to $11.065 billion while imports posted a larger decrease of 18.2% to $15.951 billion, respectively, in August compared with the same month of 2014. Turkey’s foreign trade deficit, meanwhile, plunged 38.9% to $4.886 billion in August from $8.111 billion in the same month of 2014. In July, the country’s foreign trade deficit had reached the highest level since December 2014.

The country’s seasonally and calendar adjusted exports, meanwhile, rose 1.6% while imports fell 9.5% in August compared with the previous month. Turkey’s calendar adjusted exports, however, slid 3% while imports dropped 18.3% from a year earlier.

Turkey’s exports to the European Union fell 3.4% on the year to $4.867 billion in August from $5.039 billion in the same month of 2014. Germany continued to be Turkey’s top export destination, with exports reaching $1.47 billion. Germany was followed by the UK ($825 million), Iraq ($720 million) and the USA ($518 million) as the main destinations for Turkish exports.

In August, China remained the largest source of Turkey’s imports, with imports worth $1.952 billion. It was followed by Germany ($1.843 billion), Russia ($1.554 billion) and Italy ($828 million) in the list of the largest exporters to Turkey.
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