Turkey: July trade deficit $9.01 billion

Turkey which has been among the most outstanding countries in terms of economic performance since the global crisis, has been going through a major problem for quite a while, as well.

The country’s CA deficit is a true headache for the administration of economy and most recent figures have added on top that.

As declared by the Turkish Statistics Institute, Turkey’s trade deficit surged 38.4 percent year-on-year in July to $9.01 billion, data showed on Friday, lower than a forecast deficit of $9.4 billion.

Exports rose 24.2 percent to $11.9 billion and imports rose 29.9 percent to $20.9 billion, the Turkish Statistics Institute said.

To recap the administration in power has to face a very tough challenge of bringing down said deficit, should Turkey take its place among the most developed countries in the world by the year 2023, as targeted by AK Party government.

27.08.2011

SOURCE: MEDIA