Turkey trade deficit shrinks 14 percent in March

Turkey’s trade deficit narrowed by an annual 14 percent from the same month a year earlier, when the outbreak of the COVID-19 pandemic throttled imports and exports.

The deficit fell to $4.69 billion last month, the Trade Ministry said on its website, citing preliminary figures.

Imports rose by an annual 26 percent to $23.7 billion, while exports surged by 42 percent to $19 billion. Overall trade jumped by 33 percent from a year ago, the ministry said.

In the first three months of the year, the trade deficit declined by 15 percent to $11 billion. Exports climbed by 17 percent to $50 billion, outpacing a 9.7 percent increase in imports to $61.1 billion.