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TRADE DEFICIT RISES 15.8 PERCENT, EXPORTS OVER 7 PERCENT IN APRIL

Turkey’s year-on-year trade deficit rose by 15.8 percent in April to over $4.9 billion, according to a preliminary estimate revealed by the Customs and Trade Ministry.      

Exports for the month rose to $12.83 billion, which is a 7.83 percent increase from April 2016, according to the ministry. Imports also increased by 9.58 percent to $17.74 billion.       

In April, the country’s total foreign trade volume soared by 8.65 percent year-on-year to reach $30.58 billion, it said.       

Turkey exported goods worth $1.13 billion to Germany, its largest market, while exports to the U.A.E. amounted to $1.2 billion, and exports to Iraq were $857 million.  

China with $1.65 billion, Germany with $1.63 billion and Russia with $1.46 billion were the main sources of imports.       

On April 28, The Turkish Statistical Institute (TÜİK) revealed that Turkey’s foreign trade deficit narrowed by 10.3 percent year-on-year in March to reach $4.5 billion


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