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Financial News: Turkey Trade Deficit Widens In November

Turkey Trade Deficit Widens In November

12/31/2019 - 03:58:00 (RTTNews)

(RTTNews) - Turkey's trade deficit increased sharply in November, driven by higher imports, data from the Turkish Statistical Institute showed on Tuesday.

The trade deficit widened to $2.23 billion from $672 million a year ago.

The statistical office said exports coverage imports was 87.4 percent, while it was 95.8 percent in November 2018.

On a monthly basis, exports and imports grew 1 percent and 3.4 percent, respectively. Year-on-year, calendar adjusted exports logged a marginal growth of 1 percent, and imports surged 12.7 percent.

During January to November, the trade deficit declined sharply to $26.8 billion from $52.38 billion in the previous year.

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