Turkish trade deficit shrinks 41.8% in July, stats office says

Turkey’s foreign trade deficit shrank 41.8% year-on-year to $7.30 billion in July, official data showed on Wednesday.

In July, exports rose 13.8% year-on-year to $22.51 billion and imports decreased 7.8% to $29.81 billion, data from the Turkish Statistical Institute showed.

According to the official data, China was the biggest source of imports, amounting to $4.16 billion in July, while imports from Russia reached $3.77 billion.

In July, Turkey’s top export destination country became Germany, with exports amounting to $1.75 billion. Turkey’s exports to the United Kingdom reached $1.60 billion and exports to the United States totalled $1.44 billion.

In January-July, the foreign trade deficit narrowed 32.4% to $49.94 billion, the data showed.
Source: Reuters (Reporting by Oben Mumcuoglu; Editing by Daren Butler)