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Turkey’s foreign trade statistics announced for January

by ChemOrbis Editorial Team -
  • 01/03/2016 (13:47)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports both declined in January. Exports plunged 22% to $9.597 billion while imports posted a decrease of 19.7% to $13.358 billion in January from a year earlier. Turkey’s foreign trade deficit, meanwhile, declined 13.4% to $3.762 billion from $4.343 billion in the same month of 2015.

The country’s seasonally and calendar adjusted exports and imports also decreased 1.1% and 1.5%, respectively, in January compared with the previous month. Turkey’s calendar adjusted exports slid 20% while imports dropped 17% from a year earlier.

Turkey’s exports to the European Union dropped 9.7% on the year to $4.75 billion in January from $5.259 billion in the same month of 2014. Germany continued to be Turkey’s top export destination, with exports reaching $1.9 billion. Germany was followed by the UK ($650 million), Italy ($570 million) and Iraq ($469 million) as the main destinations for Turkish exports.

In January, China remained the largest source of Turkey’s imports, with imports worth $1.924 billion. China was followed by Russia ($1.345 billion), Germany ($1.163 billion) and Italy ($606 million) in the list of the largest exporters to Turkey.
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