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Turkey’s foreign trade statistics announced for May

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/06/2017 (14:36)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports posted gains in May. Exports rose by 12.5% to $13.616 billion while imports climbed by 21.7% to $20.923 billion in May from a year earlier. Turkey’s foreign trade deficit, meanwhile, moved higher by 43.3% to $7.307 billion.

The country’s seasonally and calendar adjusted exports decreased by 0.2% while imports increased by 9% in May compared with the previous month. Turkey’s calendar adjusted exports and imports were also up by 9.6% and 21%, respectively from a year earlier.

Turkey’s exports to the European Union increased by 4.4% on the year to $6.126 billion in May from $5.868 billion in the same month of 2016. Germany became Turkey’s top export destination, with exports reaching $1.237 billion. Germany was followed by UAE ($1.038 billion), the USA ($858 million) and Iraq ($831 million) as the main destinations for Turkish exports.

In May, China remained as the largest source of Turkey’s imports, with imports worth $1.930 billion. China was followed by Germany ($1.816 billion), Russia ($1.455 billion) and the USA ($1.165 billion) in the list of the largest exporters to Turkey.
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