FOREIGN TRADE DEFICIT INCREASED BY 69% IN 2020

The Foreign trade deficit increased by 69.1% to USD 49.9bn in 2020, according to provisional data from Turkish Statistical Institute. Exports decreased by 6.3% to USD 169.4bn while imports rose by 4.3% to USD 219.4 compared to 2019. Meanwhile, the export-import coverage ratio stood at 77.2%. Exports, meanwhile, rose by 16% to USD 17.8bn while imports reached USD 22.3bn, an increase of 11.6% in December 2020, compared to the same month of 2019.