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Turkey’s foreign trade statistics announced for August

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/09/2016 (11:01)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports posted increases in August. Exports rose 7.7% to $11.867 billion and imports increased 3.7% to $16.554 billion in August from a year earlier. Turkey’s foreign trade deficit, meanwhile, fell by 5.3% to $4.687 million.

The country’s seasonally and calendar adjusted exports increased by 10.5% while imports decreased 0.6% in August compared with the previous month. Turkey’s calendar adjusted exports moved higher by 4.9% while imports were down 0.2% from a year earlier.

Turkey’s exports to the European Union increased 13.9% on the year to $5.519 million in August from $4.848 million in the same month of 2015. Germany became Turkey’s top export destination, with exports reaching $1.193 billion. Germany was followed by United Kingdom ($921 million), Iraq ($708 million) and the USA ($606 million) as the main destinations for Turkish exports.

In August, China remained the largest source of Turkey’s imports, with imports worth $2.531 billion. China was followed by Germany ($1.738 billion), Russia ($1.378 billion) and Italy ($823 million) in the list of the largest exporters to Turkey.
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