ANKARA — The western province of Istanbul, the largest city in Turkey, is boosting the country's exports and imports by providing and spending more than half of the country's foreign trade, according to Turkstat, Turkey's statistics authority.
Turkey's total exports stood at $40.2 billion in the first quarter of this year, while its import was at $57.4 billion.
Istanbul, constituting the country's economic, cultural, and historical heart, exported $20.6 billion worth of goods to the world and imported $28.6 billion worth of goods from around the world.
The western port city of Izmir came second in foreign trade with $3.1 billion in exports and $2.3 billion in imports.
Additionally, a total of some $177.8 billion was spent from the central administration budget last year. Istanbul single-handedly contributed a sweeping 39.05 percent of the entire state budget with some $68.2 billion in 2013.
In turn, some $7.8 billion was spent on Istanbul from the budget. This represents almost eight times more contribution from the city of Istanbul than allocation from the budget to the city, according to figures from the Finance Ministry.
A total of some $177.8 billion was spent from the central administration budget in the last year. The Finance Ministry says $195 billion was allocated to public institutions for 2014 budget year.
In 2013, Turkey's annual exports decreased 0.4 percent to $151.9 billion compared to 2012, while imports rose 6.4 percent, reaching $251.7 billion.
Last year, the foreign trade deficit increased 18.7 percent to $99.8 billion compared to 2012.
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
