Turkey’s foreign trade gap increased by 14.7% y/y to $4.4bn in September, preliminary data of the ministry of customs and trade showed on October 2.
Exports declined by 5.7% y/y to $11bn, while the country’s imports fell by 0.7% y/y to $15.3bn. The Turkish Exporters’ Assembly (TIM), however, reported on October 1 that the decline in exports was 0.8% y/y to $10.45bn. The final official data for September will be released by statistics office TUIK at the end of this month. TUIK reported on August 30 that the foreign trade deficit shrank 5% y/y in August.
According to the ministry's data, Turkey’s foreign trade deficit was down by 14.8% y/y $41.9bn as the decline in imports outpaced the decline in exports. Imports fell by 6.5% y/y to $146bn in the first nine months of the year whereas the decline in exports was 2.7% y/y to $104bn.
The government targets to narrow the foreign trade deficit to $55.2bn in 2016 from last year's $63bn, with exports expected to reach $156bn and imports to stand at $211bn.
|Turkey's Foreign Trade|
|($ bn)||(%)||($ bn)||(%)||($ bn)||(%)|
|Source: tuik, gtb|
The Monetary Council of the Magyar Nemzeti Bank announced new monetary policy measures at its November 21st meeting, while keeping the base rate and the overnight rates unchanged, as expected. ... more
The International Monetary Fund (IMF) has welcomed Uzbekistan’s ongoing efforts “to adopt a more effective macroeconomic stabilisation framework and to improve the economy’s ... more
The Mongolia Stock Exchange (MSE) Top 20 Index is approximately up by 74% year-to-date, marking the largest gain among all benchmarks tracked by Bloomberg. ... ... more