Turkish trade deficit shrinks 11.7 percent in 2016: Ministry

ANKARA

Turkey’s trade deficit narrowed by 11.7 percent to $55.97 billion over the course of 2016, with exports down 0.84 percent and imports down 4.17 percent, preliminary data from the Customs and Trade Ministry showed on Jan. 2. 

Overall exports in 2016 slipped to $142.6 billion from $143.8 billion in 2015, while imports fell to $198.6 billion from $207.23 billion in 2015, according to the data.        

Turkey’s also trade deficit narrowed by 11.7 percent year-on-year in December to $5.56 billion, data also showed.

Exports rose 9.3 percent in December to $12.8 billion and imports climbed 2.2 percent to $18.4 billion, it added.

In November 2016, exports rose to $12.85 billion, a 9.92 percent increase from November 2015, while imports increased by 6.25 percent to $16.96 billion.