Turkey’s August foreign trade deficit increases by 13.5 percent

Turkish Statistical Institute (TÜİK) announced foreign trade statistics for August 2014, foreign trade deficit increased by 13.5 percent, from 7 billion 80 million USD of August 2013 to 8 billion 36 million USD.

According to TÜİK's data, Turkish exports increased by 2.9 percent to 11 billion 440 million USD and imports increased by 7 percent to 19 billion 476 million USD in August 2014.

Exports to the European Union increased by 10 percent from 4 billion 605 million USD to 5 billion 65 million USD, with a share of 44.3 percent in total Turkish exports.

The main destination for Turkish exports in August 2014 was Germany with 1 billion 137 million USD, followed by the UK with 777 million, Iraq with 647 million and the U.S. 530 million USD.

The main source for Turkish imports was China with 2 billion 257 million USD followed by Russia 2 billion 137 million, Germany with 1 billion 746 million and Italy with 994 million USD.