Turkey’s foreign trade deficit fell by 22% y/y to $6.28bn in June, as exports and imports declined 6% y/y and 12% y/y, respectively, preliminary data of the ministry of customs and trade showed on July 2.
Exports amounted to $11.9bn while automotive exports, which was hit by employee protests during May, fell again by 2% y/y to $1.60bn and machinery exports were down 5% y/y to $1.09bn.
The ministry reported that capital goods and consumer goods imports rose by 6% y/y and 11% y/y, respectively, and intermediate goods imports declined by 19% y/y. Turkey paid a $3.30bn for energy imports in June, representing a 27% y/y decline.
In the first half of the year, Turkey’s foreign trade gap narrowed 17% y/y to $33.3bn. Exports fell by 8% y/y to $73.5bn and imports declined by 11% y/y to $106.7bn, according to the ministry’s data.
|
Turkey's Foreign Trade |
||||||
|
|
Exports |
y/y |
Imports |
y/y |
Deficit |
y/y |
|
|
($ bn) |
(%) |
($ bn) |
(%) |
($ bn) |
(%) |
|
2008 |
132.0 |
23.1 |
202.0 |
18.8 |
-69.9 |
11.4 |
|
2009 |
102.1 |
-22.6 |
140.9 |
-30.2 |
-38.8 |
-44.5 |
|
2010 |
113.9 |
11.5 |
185.5 |
31.7 |
-71.7 |
84.8 |
|
2011 |
134.9 |
18.5 |
240.8 |
29.8 |
-105.9 |
47.8 |
|
2012 |
152.5 |
13.0 |
236.5 |
-1.8 |
-84.1 |
-20.6 |
|
2013 |
151.8 |
-0.4 |
251.7 |
6.4 |
-99.9 |
18.8 |
|
2014 |
157.6 |
3.8 |
242.2 |
-3.8 |
-84.6 |
-15.3 |
|
Jan-15 |
12.3 |
-0.7 |
16.6 |
-13.7 |
-4.3 |
-37.3 |
|
Jan-Feb |
24.6 |
-3.4 |
33.6 |
-10.6 |
-9.0 |
-25.7 |
|
Q1 |
37.1 |
-7.5 |
52.3 |
-9.0 |
-15.2 |
-12.5 |
|
Jan-Apr |
50.5 |
-5.7 |
70.7 |
-9.5 |
-20.2 |
-18.0 |
|
Jan-May |
61.6 |
-8.379536273 |
88.5 |
-10.56765735 |
-27.0 |
-15.19012329 |
|
Source: tuik |
||||||
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