May 31 2018

Turkey’s trade deficit increases by 35.6 percent

Both Turkish imports and exports grew year on year, state news agency Anadolu said, but while exports grew by 7.8 percent, imports grew by 15.6 percent.

Exports were now worth $13.87 billion and imports were at $20.55 billion, while Turkey’s monthly trade deficit for April was at $6.69 billion, an increase of 35.6 percent, it said.

A similar picture was recorded for January and February, with the trade deficit increasing by 56.2 percent over the same months the previous year.

One piece of good news for exporters, but not importers, is that the Turkish lira has been at all-time lows in recent weeks.

The lira dropped from 3.78 to the dollar at the start of the year to a high of 4.92 to the dollar last week. It has now returned to levels of around 4.50.

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