The foreign trade deficit was down 21.6 percent in June compared to the same month of the previous year, according to data released by the Turkish Statistical Institute (Turkstat) and the Customs and Trade Ministry on Friday. The deficit fell from $7.9 billion to $6.2 billion. However, total trade volume has also declined during the same time period. While exports were down 6.9 percent, decreasing to $12 billion, imports declined 12.5 percent, decreasing to $18.2 billion. Export coverage imports was 65.9 percent in June 2015, while the June 2014 value stood at 61.9 percent.The significant fall in export and import numbers indicate a slowdown in international trade activity, which is likely to be highly correlated with a few points regarding Turkey's trade partners and post-election politics. A government is yet to be formed weeks after the elections, affecting the Turkish economy that has been accustomed to the presence of a single party government for years. While the Economy Ministry previously said that the damage of a possible snap election would not be dramatic considering the size of the economy, the possibility still affects Turkey's business sphere. The lower export numbers were expected due to the Greek financial crisis tension in the EU where uncertainty disturbed the markets, Greece in particular with their banks closed and withdrawal limit in effect. The southern border is Turkey's other highly active export gate, which is currently a hot zone with acts of terrorism and military interventions on both sides of the border, on top of the war in Syria. Apart from the slight ambiguity regarding economic direction due to the lack of a coalition government, devaluation of the Turkish lira probably had the largest effect on the fall in imports as imported goods and services became more and more expensive for the Turkish consumer throughout the last 12 months. Regarding the gap between the ratios of high-tech goods in exports and imports, the Economy Ministry recently regulated a tariff in order to increase the competitiveness of the domestic producers in the Turkish market.Exports to the European Union member countries declined 6.6 percent in June compared to the same month of the previous year, dropping from $5.9 billion to $5.5 billion. The trade with the EU members consisted of 46.1 percent of the exports in June 2014, which remained about the same level with 46 percent in June 2014.In June, Germany was the main trade partner for Turkey in terms of exports with $1.1 billion, followed by the U.K., Iraq and Italy with $814 million, $689 million, $595 million respectively. Meanwhile, Turkey imported from China the most, with imports totaling about $2 billion, Germany, Russia and Italy followed China with $1.9 billion, $1.7 billion, and $1 billion respectively.TurkStat's report also revealed that Turkish exports consisted heavily of manufacturing industries products with 93.5 percent in June, while high-tech goods were only a small fraction of them. Similarly, manufacturing industries products predominated the imports with 81.3 percent, however high-tech goods consisted of 14.8 percent of these, which is significantly higher than exports.