Turkey’s trade deficit comes in weaker

Official data show both exports and imports suffered a fall in May, while Germany stood as main export partner

Photo by: Reuters
Photo by: Reuters

Updated Jul 28, 2015

Turkey’s foreign trade deficit in May declined significantly, a report from the Turkish Statistical Institute said on Tuesday.

Exports fell much more sharply than imports, the report showed.

In May 2015, exports were down 18.8 percent  to $11.11 billion, and imports were $17.86 billion, a 14.4 percent drop compared with May 2014, the report said.

The foreign trade deficit in May fell by 6.1 percent to $6.75 billion from $7.19 billion in May of last year.

The main partner for exports was Germany with $1.16 billion. Germany was followed by the UK with $0.69 billion, Iraq $0.66 billion and Italy $0.5 billion.

In May 2015, the top countries for Turkey’s imports were China, with $1.93 billion, Germany, with $1.85 billion, Russia with $1.8 billion and the US, with $1 billion.