Turkey's exports hit $50 bln in Q1

ANKARA-Anadolu Agency

Turkey's exports increased 17.2 percent on an annual basis to reach $50 billion in the first quarter of 2021, the country's statistical authority said on April 30.

Imports during the January to March period were up 9.6 percent to reach $61.2 billion, leaving the foreign trade deficit at $11.4 billion, marking a fall of 15.2 percent, according to the Turkish Statistical Institute (TÜİK).

The export-import coverage ratio was 81.9 percent in the first quarter of 2021, up from 76.6 percent during the same period last year.

In March, exports soared 42.2 percent on a yearly basis to reach $19 billion, while imports were up 25.6 percent to reach $24 billion.

The trade deficit in March stood at $4.6 billion, narrowing 14.9 percent on an annual basis.

The export-import coverage ratio in the month was 80.3 percent, while it was 70.9 percent in March 2020.