Kazakhstan's manufacturing remained under pressure in May, PMI data shows
23 hours ago
Turkey’s foreign trade shortfall widened by 36% y/y to stand at $6.69bn in April, national statistics office TUIK reported on May 31.
On May 2, initial data from the customs and trade ministry pointed to a 33% annual expansion in April’s foreign trade deficit to $6.65bn.
Also according to the TUIK data, the foreign trade deficit grew 56% y/y to $27.4bn in January-April.
Exports were up 9% y/y to $55bn in the first four months of 2018 but imports rose at the higher pace of 21% y/y to reach $82bn.
Anxieties over Turkey's overheating economy are strengthening with the growing imports and widening current account deficit. Turkey's economic health is patently dangerously reliant on hot inflows of foreign external financing to enable growth. The political and economic outlook in Turkey is not secure enough to attract sufficient longer-term, stabler foreign investment capital.
The foreign trade deficit rose by 37% y/y to $77bn in 2017. Exports were up 10% y/y to $157bn but imports rose at the quicker pace of 18% y/y to reach $234bn.
The government is forecasting a foreign trade deficit of $68bn for 2018 with exports reaching $169bn and imports amounting to $237bn.
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Kazakhstan's manufacturing remained under pressure in May, PMI data shows
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