Financial News: Turkey Trade Gap Narrows In October

Turkey Trade Gap Narrows In October

11/28/2024 - 04:12:00 (RTTNews)

(RTTNews) - Turkey's foreign trade deficit decreased in October from the previous year as exports rose amid a stagnation in imports, the Turkish Statistical Institute said on Thursday.

The trade deficit dropped to $5.9 billion in October from $6.6 billion a year ago.

In October, exports increased by 3.1 percent annually, while imports remained flat.

The main partner country for exports during October was Germany, followed by the USA, UK, Iraq, and Italy.

Excluding energy products and non-monetary gold, the foreign trade shortfall was $0.627 billion.

On a seasonally and calendar-adjusted basis, exports rose 0.5 percent over the month, and imports grew by 3.1 percent.

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