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Turkey’s foreign trade statistics announced for July

by ChemOrbis Editorial Team -
  • 31/08/2015 (11:53)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports both slumped in July. Exports fell 16.2% to $11.181 billion while imports dropped 8.7% to $18.209 billion, respectively, in July compared with the same month of 2014. Accordingly, Turkey’s foreign trade deficit rose 6.5% to $7.028 billion in July from $6.596 billion in the same month of 2014, reaching the highest level since December 2014.

The country’s seasonally and calendar adjusted exports, meanwhile, edged up 0.1% while imports rose 3.9% in July compared with the previous month. Turkey’s calendar adjusted exports, however, plunged 17.2% while imports dropped 12.5% in July from a year earlier.

Turkey’s exports to the European Union fell 13.8% on the year to $5.176 billion in July from $6.007 billion in the same month of 2014. Germany remained Turkey’s top export destination, with exports reaching $1.1 billion. Germany was followed by the UK ($810 million), Iraq ($630 million) and the USA ($605 million) as the main destinations for Turkish exports.

In July, China continued to be the largest source of Turkey’s imports, with imports worth $2.086 billion. China was followed by Germany ($1.980 billion), Russia ($1.706 billion) and Italy ($1.020 billion) in the list of the largest exporters to Turkey.
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