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Turkey’s foreign trade statistics announced for January

by ChemOrbis Editorial Team - content@chemorbis.com
  • 03/03/2015 (11:52)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports decreased in January. Exports contracted 0.6% year over year to $12.331 billion and imports declined 13.7% to reach $16.636 billion when compared to the same period of 2014. Turkey’s foreign trade deficit, meanwhile, slumped 37.5% to $6.886 billion in January when compared to the same month of the previous year.

Turkey’s seasonally and calendar adjusted exports rose 7.1% while imports were down 2.9% month over month in January. Calendar adjusted exports declined 0.3% while imports also decreased by 11.3% on a yearly basis.

The country’s exports to the European Union dropped 3.4% year over year to $5.271 billion from $5.456 billion. Germany was Turkey’s top export destination, with exports reaching $1.107 billion. Germany was followed by Switzerland ($1.046 billion), the United Kingdom ($944 million) and Iraq ($837 million) as the main destinations for Turkish exports.

In January, China was reported as the top importer to Turkey, with imports valued at $2.118 billion. China was followed by Russia ($1.906 billion), Germany ($1.315 billion) and Italy ($779 billion) in the list of the largest importers to Turkey.
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