Turkey’s foreign trade deficit falls by 8.4 percent in September
It was announced by TUIK of Turkey that the country’s foreign trade deficit had fallen by 8.4 percent to 6 billion 925 million dollars in September, from 7 billion 560 million dollars in the same month of last year.
According to the data produced in the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade in September exports were 13 billion 660 million dollars with a 4.6 percent increase and imports were 20 billion 585 million dollars with a 0.2 percent decrease compared with September 2013. Thus, exports coverage of imports rose to 66.4 percent in September, from 63.3 percent in September 2013.
As compared with the same month of the previous year, exports to the EU-28 increased by 7.1 percent from 5 billion 603 million dollars to 6 billion 2 million dollars. The share of the EU countries stood at 43.9 percent in September, up from 42.9 percent in the same month of last year.
In September 2014, the main partner country for exports was Germany with 1 billion 321 million dollars. Germany was followed by the United Kingdom with 921 million dollars, Iraq with 911 million dollars and the USA with 602 million dollars.
In September 2014, the top country for Turkey’s imports was China with 2 billion 318 million dollars, records for imports range from Russia with 2 billion 25 million dollars, Germany with 1 billion 859 million dollars and the USA with 1 billion 71 million dollars.
The ratio of manufacturing industries’ products in total import was 77.5 percent. The ratio of high-technology products in manufacturing industries’ products was 14 percent in September 2014. The ratio of medium-high-technology products in manufacturing industries’ products was 41 percent.