Turkey’s exports hit all-time high with $168 billion in 2018

ANKARA

Turkey’s exports hit an all-time high with $168.1 billion last year, the country’s trade minister said on Jan. 4.

Ruhsar Pekcan stated that exports in 2018 climbed 7.1 percent year-on-year, compared with nearly $157 billion in the previous year.

“In 2018, imports fell 4.6 percent on a yearly basis to $223.1 billion,” Pekcan said.

“Turkey’s exports-to-imports coverage ratio reached 75.3 percent last year, up 8.2 percentage points from 2017,” she added.

According to the preliminary data, Turkey’s foreign trade balance posted a deficit of $55 billion last year, marking a significant improvement compared with $76.8 billion in 2017.

The final figures will be announced by the country’s statistical authority on Jan. 31.