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  • 02-09-18

    Turkey posts 58 percent drop in foreign trade deficit in August

    (MENAFN) The Turkish trade ministry unveiled the country to have recorded a 58 percent year-on-year decrease in its foreign trade deficit.

    Turkey's trade deficit has hit USD2.48 billion in August, marking the lowest monthly number to be seen in the past nine years, as stated Trade Minister Ruhsar Pekcan.

    "In the same month, exports coverage ratio to imports reached 83.3 percent," the trade minister noted, adding "it is also the highest level over the past nine years."

    The Turkish minister further unveiled imports to have registered a drop, hitting in August, with exports posting a 6.5 percent fall to reach USD12.4 billion.

    Pekcan added "by compensating for the calendar effect, we will see that exports will show a rapid increase again in September."

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