Despite rise in exports, trade deficit of Turkey doubles in January 2020
Turkey’s exports rose 6.4 percent and imports 18.8 percent in January. However, the foreign trade deficit increased by 94.3 percent to US$ 4 billion 448 million.
According to provisional foreign trade data produced under the general trade system; exports in January 2020, increased to US$ 14 billion 759 million by 6.4 percent compared to the same month of the previous year and imports increased by 18.8 percent to US$ 19 billion 207 million.
On the other hand, the foreign trade deficit increased by 94.3 percent from $ 2 billion 290 million to $ 4 billion 448 million in same period. Export/import coverage ratio in January 2019 was 85.8 percent and it went down to 76.8 percent in same month 2020.
According to economic activities in exports in January 2020, the share of manufacturing industry was 94.1 percent, the share of Agriculture, Forestry and fishing sector was 3.9 percent, and the share of mining and quarrying sector was 1.7 percent.
