Overseas trade insufficiency of Turkey drops by 40 percent| MENAFN.COM

Monday, 24 January 2022 07:34 GMT

Overseas trade insufficiency of Turkey drops by 40 percent


(MENAFN) Based on official statistics published on Monday, Turkey’s overseas trade insufficiency dropped by 40.1 percent on a yearly basis to about USD1.44 billion during October.

According to the Turkish Statistical Institute (TurkStat), the nation’s exports and imports witnessed a yearly surge of 20.1 percent and 12.8 percent to hit USD20.79 billion and USD22.23 billion, correspondingly.

Turkey’s exports and imports amounted at USD16.4 billion and USD15.6 billion, in turn, without the energy and gold trade. Moreover, TurkStat stated that overseas trade excess, without energy commodities and non-monetary gold stood at USD3.13 billion during October.

The export-import coverage balance was 93.5 percent in October. In the period from January till October of this current year, Turkey’s exports increased by 33.9 percent on an annual basis to reach USD181.7 billion, whereas imports jumped by 22.5 percent to hit USD215.53 billion.

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