Turkey Increases Imports by 41.1 Percent in June 2011, over Same Period Last Year

Turkey’s imports increased 41.1 percent over the same period of last year and reached $22 billion.

According to the provisional data provided by TurkStat and Ministry of Customs and Trade, June 2011 exports increased by 19.3 percent and reached to $11 billion while imports increased by 41.7 percent and reached to $22 billion.

Foreign trade deficit increased from 5.6 billion USD to 10.1 billion USD in the same month.

Inspite of  the most promising financial results the administration has achieved, Turkey cannot overcome its major problem of excessive increase in its imports.

Exports have been recorded to be on a consistent rise which receives good credit. However the balance is still getting worse as this increase is not high enough to cover the increase in imports.

This in return is effecting the deficit in CA in a most negative manner.

July 29, 2011
BUSINESS TURKEY TODAY