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Turkey’s imports, exports up in October

by ChemOrbis Editorial Team -
  • 01/12/2017 (10:59)
According to data from the Ministry of Customs and Trade and the Turkish Statistical Institute (TurkStat), Turkey’s exports and imports registered increases in October. Exports rose by 9% while imports surged considerably by 25% in October from a year earlier.

However, Turkey’s foreign trade deficit increased by 73.9% to $7.324 billion compared with October 2016.

The country’s seasonally and calendar adjusted exports increased by 1.7% while imports decreased by 6.1% compared with September. The calendar adjusted export volume index increased by 7.9% to on a yearly basis. The calendar adjusted import volume index also grew by 19.2% in October 2017.

Turkey’s exports to the European Union increased by 11.4% year-on-year to $6.900 billion in October from $6.193 billion in the same month of 2016. Germany was Turkey’s top export destination, with exports reaching $1.455 billion. Germany was followed by the United Kingdom ($890 million), the USA ($771 million) and Italy ($746 million) as the main destinations for Turkish exports.

In October, China remained as the largest source of Turkey’s imports, with imports worth $2.113 billion. China was followed by Germany ($2.33 billion), Russia ($1.793 billion) and Italy ($1.79 billion) in the list of the largest exporters to Turkey.
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