Exports increased 6.0% in November over the same month last year to reach USD 9.4 billion, which was down from the 8.8% expansion registered in October. Exports had been expanding at a double-digit pace since the start of the year, primarily owing to stronger demand from Western Europe. However, in recent months, exports appeared to lose steam amid ongoing uncertainty regarding the economic recovery in the Eurozone. The November increase in exports was driven by strong shipments to Germany, which added 13.3% over the same month last year. Nevertheless, exports still remain below pre-crisis levels, with the 3-month sum in exports standing at USD 29.4 billion, well below the July 2008 peak of USD 36.8 billion (trough in May 2009 with USD 23.1 billion). Imports continue to expand, buttressed by resilient domestic demand. In November, imports rose 35.7% year-on-year, virtually unchanged compared to the 35.5% increase recorded in October. As a result, the moving 12-month trade deficit is widening rapidly, reaching USD 67.6 billion in November.
Turkey Trade Balance
Trade deficit continues to widen
December 30, 2010
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Turkey Economic News
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.