Turkey’s foreign trade deficit increased by 83.7 percent in the first two months of the year.

March 31, 2018March 31, 2018 BTT

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Turkey’s foreign trade deficit increased by 83.7 percent in the first two months of the year. — Turkey’s Exports, commercial vessel – BusinessTurkeyToday.com

Based on data by TUIK (Turkish Statistics Institute) it was reported that foreign trade deficit of Turkey had gone up to USD 14.84 billion, corresponding to an increase of 83.7 percent, in the first two months of the current year. Compared to February 2017, foreign trade deficit increased by 54.2 percent to USD 5.76 billion.

Obviously this was not considered to be good news for the Turkish economy which has already been struggling hard to overcome the negative effects of many obstacles it has incurred during recent years. Moreover, when such news come at a time when the government claims the economy has been doing real well, the situation becomes even more confusing – at least from the point of view of foreign investors interested in Turkey.