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FinancialNews
02-12-19
Turkish Statistical Institute: trade deficit increase to USD 1.808 billion
(MENAFN) In October, the trade shortage increased to USD 1.808 billion after it was USD 497 million in the same month previous year, representing a 4 folds rise on a yearly basis, as aid on Friday by the Turkish Statistical Institute.
Seasonally and calendar-adjusted exports dropped by a monthly 0.5 percent in comparison with September and imports grew by 3.6 percent.
Turkey"s economy is rising from a harsh slump because of a currency crisis in the summer of 2018 in which it lost 30 percent of its value next to the USD, it also kept on fluctuating this year and lost around 8 percent.
According to the credit rating agency Fitch Ratings, Turkey could experience bigger stability in 2020.
MENAFN0212201900450000ID1099354711
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