Turkey’s trade deficit rises 15.8 percent, exports over 7 percent in April: Ministry

ANKARA - Anadolu Agency

Turkey’s year-on-year trade deficit rose by 15.8 percent in April to over $4.9 billion, according to a preliminary estimate revealed by the Customs and Trade Ministry on May 2.        

Exports for the month rose to $12.83 billion, which is a 7.83 percent increase from April 2016, according to the ministry. Imports also increased by 9.58 percent to $17.74 billion.    
    
In April, the country’s total foreign trade volume soared by 8.65 percent year-on-year to reach $30.58 billion, it said.        

Turkey exported goods worth $1.13 billion to Germany, its largest market, while exports to the U.A.E. amounted to $1.2 billion, and exports to Iraq were $857 million.   
     
China with $1.65 billion, Germany with $1.63 billion and Russia with $1.46 billion were the main sources of imports.        

On April 28, The Turkish Statistical Institute (TÜİK) revealed that Turkey’s foreign trade deficit narrowed by 10.3 percent year-on-year in March to reach $4.5 billion.        

Meanwhile, Turkish exports advanced 4 percent year-on-year to reach almost $11.9 billion in April on the back of performances by the steel, automotive, mining and jewelry sectors, the country’s main exporters’ association, TİM, said on May 1.