Turkey's Foreign Trade Deficit Narrows By 40% In October

29.11.2021 10:27

Exports, imports stood at $20.8B, $22.2B, respectively, in October, official data shows.

Turkey's foreign trade deficit narrowed by 40.1% on an annual basis to some $1.44 billion in October, according to official figures released on Monday.

The country's exports and imports saw an annual rise of 20.1% and 12.8% to reach $20.79 billion and $22.23 billion, respectively, the Turkish Statistical Institute (TurkStat) reported.

Excluding the energy and gold trade, Turkey's exports and imports were $16.4 billion and $15.6 billion, respectively.

Foreign trade surplus -- excluding energy products and non-monetary gold -- was $3.13 billion in October, TurkStat said.

The export-import coverage ratio was 93.5% in October.

In the first 10 months of 2021, Turkey's exports grew 33.9% on a yearly basis to hit $181.7 billion, while imports were up by 22.5% to $215.53 billion.

The trade balance during the January-October period saw a deficit of $33.86 billion, a 15.9% decrease from the corresponding period last year.​​​​​​​

"Exports coverage imports was 83.1%, while it was 76.2% in January-October 2020," it added. -

In order to provide you with a better service, we position cookies on our site. Your personal data is collected and processed within the scope of KVKK and GDPR. For detailed information, you can review our Data Policy / Disclosure Text. By using our site, you agree to our use of cookies.', '