Foreign trade deficit jumps 99% in April

Turkey’s foreign trade deficit rose by 98.5% to USD 6.1 billion in April compared to the same month last year, according to the Turkish Statistical Institute (TurkStat).

Exports and imports saw an annual rise of 24.6% and 35% to reach USD 23.3bn and USD 29.4bn, respectively, TurkStat said.

Imports, excluding energy products and non-monetary gold, stood at USD 21.2bn with a 16.4% rise in the month.

The ratio of intermediate goods, capital goods and consumption goods in total imports were 81.6%,10.8% and 7.4%, respectively.

Foreign trade volume reached USD 44bn with a 19.6% increase. Energy products and non-monetary gold excluded export coverage imports was 103%, TurkStat added.

Turkey’s main partner for exports was Germany with USD 2.2bn, followed by the U.S. at USD 1.7bn and the UK with USD 1.1bn.

The top country for Turkey’s imports was Russia with USD 5.4bn, followed by China at USD 3.2bn, Germany at USD 2.8bn and Italy with USD 1.7bn.

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