Turkey's Foreign Trade Deficit Falls as Imports Shrink

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Turkey's foreign trade deficit drops down to USD 1.869 Bn by a 77,1 percent decrease according to Turkey Statistics Institution monthly report for September. And the export/import rate rises from 59,1 of Sept. 2017 to 88.5 in the last month.

These figures are part of the reverse trend in Turkey's foreign trade in the aftermath of the approximately 50 percent devaluation of the Turkish Lira before foreign currencies.

Compared with 2017 figures Turkey's exports rise up to USD 14.456 by 22.4 percent increase in September 2018 and imports fall down to USD 16. 326 Bn by 18.3 decrease.

Monthly exports grow 1.3 percent according to calendar adjusted and season adjusted series

In Sep. 2018 according to calendar adjusted and season adjusted series compared to Aug. 2018, exports increased by 1.3 percent and imports decreased by 3.9. And according to calendar adjusted series in Sep. 2018 exports increased by 16.3 percent and imports decreased by 22.8 to compare with the same month in the past year.

Exports to EU increases 22.4 percent

Compared to 2017 figures exports to EU in September rises by a 24.4 percent increase up to USD 7.322 Bn. The share of the EU  in Turkish exports rises from 49.9 percent in Sept. 2017 to 50.6 .

Biggest exports to Germany

In September Turkey's exports to Germany valued USD 1.421, to be followed by UK with USD 1.056 Bn, Italy with USD 816 Mn and Iraq with USD 719 Mn.

Biggest imports from Russia

In September most of Turkey's imports was from Russia with USD 1.721 Bn, to followed by China with USD 1. 510 Bn, Germany with USD 1. 413 Bn and USA with USD 1.107 Bn. (HA/EK)