Turkey’s trade deficit widens to $4.3B in July, 7-month gap falls



Daily Sabah Staff | Daily Sabah

Turkey’s foreign trade deficit widened 51.3% year-on-year in July, the highest level in four months, data from the Turkish Statistical Institute (TurkStat) showed on Tuesday.

The gap reached nearly $4.3 billion, according to the general trade system, up from around $2.83 billion a year ago.

After trade a year earlier was hit by the pandemic, Turkey’s exports climbed 10.2% to $16.4 billion and imports rose 16.8% to $20.7 billion compared with July 2020, the institute said.

The exports-to-imports coverage ratio slipped to 79.3% in July, versus 84% in the same month of last year.

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