Financial News: Turkey Trade Deficit Widens In November

Turkey Trade Deficit Widens In November

12/31/2024 - 02:36:00 (RTTNews)

(RTTNews) - Turkey's trade deficit widened in November as exports posted its biggest fall in five months amid a rebound in imports, the Turkish Statistical Institute reported Tuesday.

The trade deficit increased to $7.46 billion from $5.97 billion in the same period last year. The deficit totalled $5.93 billion in October 2024.

Exports registered an annual fall of 3.1 percent, offsetting the 3.0 percent increase in October. This was the biggest fall since June.

On the other hand, imports increased for the first time since April. Imports advanced 2.7 percent after remaining flat a month ago, data showed.

During January to November, the trade deficit narrowed to $73.3 billion from $100.24 billion in the same period last year as exports grew 2.5 percent, while imports decreased 6.3 percent.

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