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Financial News: Turkish Trade Deficit Widens In December

Turkish Trade Deficit Widens In December

01/31/2020 - 02:34:00 (RTTNews)

(RTTNews) - Turkey's merchandise trade deficit for December widened significantly from a year ago, as the growth in imports outpaced that of exports, figures from the Turkish Statistical Institute showed on Friday.

Exports grew 6.4 percent year-on-year, driven by a 42.9 percent jump in fisheries shipments. Imports surged 14.9 percent, led by a 17.5 percent growth in demand for intermediate goods and an 11.5 percent increase in that for consumption goods.

The trade deficit widened to $4.3 billion from $2.7 billion in the same month last year. In November, the trade deficit was $1.8 billion.

In the whole year 2019, exports grew 2.1 percent, while imports decreased 9.1 percent. The trade deficit decreased 43.5 percent to $31.1 billion.

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