Turkey's Trade Deficit Widens On Higher Imports
Turkey's trade deficit widened sharply in November from last year on higher imports, the Turkish Statistical Institute reported Thursday.
The trade gap increased to $5.03 billion in November from $1.98 billion in the same period last year.
Exports dropped 0.9 percent annually, while imports surged 15.9 percent in November.
Excluding energy and non-monetary gold, exports grew 1.6 percent and imports advanced 20.3 percent.
During January to November, exports decreased 8.3 percent on year and imports climbed 3.5 percent, taking the trade deficit to $45.34 billion from $24.84 billion in the previous year.
Economic News
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