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Turkey’s foreign trade statistics announced for May

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/06/2015 (14:13)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports declined 18.8% to $11.113 billion and 14.4% to $17.866 billion, respectively in May compared with the same month of 2014.Accordingly, Turkey’s foreign trade deficit decreased 6.1% to $6.753 billion in May from $7.193 billion in the same month of 2014.

The country’s seasonally and calendar adjusted exports were also down 13.6% while imports remained steady in May compared with the previous month. Turkey’s calendar adjusted exports, meanwhile, fell 16.4% while imports dropped 11.4% in May from a year earlier.

Turkey’s exports to the European Union slumped 21.3% on the year to $4.721 billion in May from $5.999 billion in the same month of 2014. Germany was Turkey’s top export destination, with exports reaching $1.016 billion. Germany was followed by the UK ($689 million), Iraq ($658 million) and Italy ($507 million) as the main destinations for Turkish exports.

In May, China remained the largest supplier to Turkey, with imports worth $1.935 billion. China was followed by Germany ($1.846 billion), Russia ($1.785 billion) and the USA ($1.061 billion) in the list of the largest suppliers to Turkey.
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