Turkey’s foreign trade deficit drop by 32 percent in April


Turkey's foreign trade deficit dropped by 31.9 percent in April compared to the same month of the previous year, the Turkish Statistical Institute (Turkstat) announced on Friday. According to data released by Turkstat, the foreign trade deficit decreased to $5 billion from $7.3 billion in April 2014. Export coverage imports increased to 73 percent in April from 64.7 percent in previous year.According to the provisional data produced with the cooperation of Turkstat and the Ministry of Customs and Trade, exports totaled $13.4 billion in April, increasing by 0.2 percent, and imports were $18.4 billion, decreasing 11.1 percent compared to the same month the previous year.On the other hand, seasonal- and calendar-adjusted exports increased by 5.3 percent, while imports decreased by 0.3 percent compared with the previous month.Compared with the same month the previous year, exports to the European Union's 28 countries decreased by 10.4 percent from $5.9 billion to $5.3 billion. The proportion of EU countries in total Turkish exports decreased to 39.5 percent, while it was 44.1 percent in April 2014. The main partner country for exports was Switzerland with $1.2 billion. Switzerland was followed by Germany with $1.1 billion, the U.K. with $800 million and Iraq $789 million.The top country for Turkey's imports was China with $1.9 billion, while records for imports range from Germany at $1.9 billion, Russia with $1.6 billion and the U.S. with $13 billion.