Foreign trade deficit down nearly 9 pct in June

DAILY SABAH
ISTANBUL
Published 03.07.2018 00:56

Turkey's foreign trade deficit dropped by 8.87 percent to $5.5 billion in June, according to Customs and Trade Ministry provisional data released yesterday.

Exports in June were about $13 billion, decreasing by 1.21 percent year-on-year, while imports dropped 3.62 percent to $18.5 billion in the said period.

In January-June period this year, exports increased by 6.33 percent year-on-year, reaching $82.3 billion. In the last 12 months, exports climbed 9.2 percent to $161.9 billion.

Foreign trade volume reached $31.5 billion in June year-on-year, decreasing by 2.64 percent, while the import coverage ratio of exports rose to 70.2 percent.

Motor land vehicles, tractors, bicycles, motorcycles and other land vehicles were the most exported products in June at $2.1 billion, followed by boilers, machinery, mechanical devices and appliances, nuclear reactors at $1.2 billion and iron and steel at $880 million. In the January-June period this year, most exports came from motor land vehicles, tractors, bicycles, motorcycles and other land vehicles at $13.8 billion.

Meanwhile, mineral fuels, mineral oils and products of their distillation became the most imported in June at $3.5 billion, followed by boilers, machinery, mechanical devices and appliances, nuclear reactors at $2.2 billion and iron and steel at $1.6 billion.

The top three export destinations in June were Germany with $1.3 billion, the U.K. with $891 million and Italy with $817 million. The top three countries with the highest imports, on the other hand, were China with $1.84 billion, Russia with $1.83 billion and Germany with $1.79 billion.

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