Turkey’s foreign trade deficit shrinks %11 in December 2016

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Turkey’s foreign trade deficit shrinks %11 in December 2016

Turkey’s year-on-year trade deficit fell by 11.1 percent in December 2016 to $5.56 billion, according to preliminary data released by the Customs and Trade Ministry on 02 Jan.

Exports for the month rose to $12.82 billion, which is a 9.31 percent increase from December 2016, according to a preliminary estimate from the ministry. Imports also increased by 2.2 percent to $18.38 billion.

Overall exports in 2016 slipped by just 0.84 percent to $142.6 billion from $143.8 billion in 2015 while imports fell by 4.17 percent to $198.6 billion from $207.23 billion in 2015, according to the data.

Trade deficit for the year was $55.97 billion, down 11.74 percent compared to $63.41 billion in 2015.

In November 2016, exports rose to $12.85 billion, a 9.92 percent increase from November 2015, while imports increased by 6.25 percent to $16.96 billion.

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