Turkey Trade Deficit Narrows In July

Turkey Trade Deficit Narrows In July

Turkey's foreign trade deficit decreased notably in July from a year ago, as exports rose and imports fell, the Turkish Statistical Institute reported Wednesday.

The trade deficit dropped to $5.98 billion in July from $8.88 billion in the corresponding month last year.

Exports surged 11.6 percent year-over-year in July, while imports declined by 6.7 percent.

Month-on-month, seasonally and calendar adjusted exports increased 5.1 percent. At the same time, imports registered a fall of 1.3 percent.

During the January to July period, total trade deficit of the country was $46.75 billion, up from $39.82 billion in the same period of 2017.

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