Turkey’s exports rebounce %16 in January

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Turkey’s exports rebounce %16 in January

Turkey’s exports started the year with a significant increase, the Turkish Statistical Institute (TurkStat) announced recently. Turkey’s exports in the first month of the year stood at $11.3 billion, an 18.1 percent increase year-on-year. Imports also rose to $15.6 billion, an almost 16 percent rise.

TurkStat said the country’s foreign trade deficit increased by 10.3 percent in January year-on-year, amounting to $4.3 billion.

The country’s exports to the EU — Turkey’s main trading partner — increased by 12 percent in January to reach over $5.3 billion.

Germany, the EU’s largest economy, was the largest receiver of Turkish goods in the month, in trade worth over $1.1 billion; Iraq followed with $684 million of imports from Turkey.

Turkey imported around $1.9 billion in goods from China in January. Russia was the second-largest exporter to the country, with almost $1.5 billion for the month and Germany came third with almost $1.2 billion.

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