Turkey’s exports amounted to $16.336 billion in October according to the general trade system, the country’s trade minister said Saturday.
The exports totaled $148.84 billion in 2019, rising 2.1% in the first 10-month period of 2019, Ruhsar Pekcan told reporters in the western Denizli province.
In the first 10 months of 2019, the imports have reached $172.71 billion, Pekcan said, adding that Turkey's import rate decreased by 13.2% in the same period.
"These figures and positive performance in exports continue to reassure us, our economy and our exporters,” Pekcan added.
Turkey's imports increased by 10.8% in October, reaching $18.179 billion, the minister said.
"Turkey's foreign trade deficit decreased by 55.6% [in the 10-month period], totaling $23.22 billion," she said.
The top destination for Turkish goods last month was Germany with $1.4 million, followed by the U.K. with $982 million and Iraq with $978 million.
The biggest source of Turkish imports was Russia with goods worth $1.8 billion. Russia was followed by China with $1.7 billion and Germany with $1.6 billion.
To calculate foreign trade data, two different methods are used – the special trade system and the general trade system.
Calculations based on the special trade system do not include free zones or customs warehouses. The general trade system is a wider concept, including customs warehouses, all types of free zones, free circulation areas and premises for inward processing.