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Turkey’s foreign trade statistics announced for May

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/06/2016 (10:49)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports followed an opposite direction in May. Exports rose 9.6% to $12.140 billion while imports fell 3.8% to $17.194 billion in May from a year earlier. Turkey’s foreign trade deficit, meanwhile, declined 25.5% to $5.054 billion from $6.788 billion in the same month of 2015.

The country’s seasonally and calendar adjusted exports and imports climbed 5.9% and 2.1%, respectively, in May compared with the previous month. Turkey’s calendar adjusted exports were also up 9.4% while imports fell 9.4% from a year earlier.

Turkey’s exports to the European Union jumped 25.1% on the year to $5.887 billion in May from $4.707 billion in the same month of 2015. The United Kingdom (UK) became Turkey’s top export destination, with exports reaching $1.283 billion. The UK was followed by Germany ($1.112 billion), Iran ($673 million) and Italy ($603 million) as the main destinations for Turkish exports.

In May, China remained the largest source of Turkey’s imports, with imports worth $2.039 billion. China was followed by Germany ($1.856 billion), the USA ($1.210 billion) and Russia ($1.206 million) in the list of the largest exporters to Turkey.
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