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Financial News: Turkey Trade Deficit Narrows As Expected In December

Turkey Trade Deficit Narrows As Expected In December

01/31/2017 - 04:34:00 (RTTNews)

(RTTNews) - Turkey's foreign trade gap narrowed at the end of the year, in line with forecast, preliminary figures from the Turkish Statistical Institute showed Tuesday.

The trade deficit fell to $5.6 billion in December from $6.2 billion in the corresponding month last year. The figure also matched consensus estimate.

Exports surged 9.0 percent year-over-year in December and imports went up by 2.3 percent.

The seasonally and calendar adjusted exports declined 0.5 percent monthly in December, while imports grew by 6.1 percent.

For the whole year 2016, total trade deficit of the country was $56.0 billion versus $63.4 billion in 2015.

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