Turkish trade deficit widens in October

ANKARA – Anadolu Agency

Turkey’s foreign trade deficit rose sharply in October, according to an official preliminary data released on Nov. 2.

Last month, Turkey’s trade deficit increased by 13.8 percent, climbing to $4.15 billion from $3.6 billion, the same month last year, Turkey’s Trade Ministry said in a report. 

The report revealed that exports witnessed a 2.77 percent decline to $12.9 billion in the month, while imports slightly increased by 0.8 percent to $17 billion.

The foreign trade deficit in the first 10 months of 2016 stagnated by 12.6 percent, totaling $46.17 billion.

Exports in the same period were $117.2 billion with a 2.75 percent decline, while imports narrowed by 5.75 percent to $163.3 billion.