Flash estimate indicates Turkey trade deficit shrank in February

Turkey's foreign trade deficit in February declined sharply from the previous month, preliminary statistics from the Customs and Trade Ministry showed Thursday.

Exports in February were worth $12.12 billion, up 7.4 percent from the previous month while imports edged up 1.5 percent to reach $15.82 billion, according to data released by the ministry.

Research published by the state is seen as a leading indicator ahead of a release of official figures from the Turkish Statistical Institute.

The exports-to-imports ratio, which was 72.4 percent in January, reached 76.6 percent in February.

The foreign trade volume was also up 4 percent to $27.94 billion compared to $26.86 billion the previous month. ankara / aa