Home
|
Media Center
|
Careers
Personal
Accounts
Loans
eBanking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
Tutorials
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Awards
BBK awarded for distinguished Corporate Governance practices
Bahrain’s pioneer in commercial and retail banking
BBK wins first place for excellence in Corporate Governance practices
BBK wins Bahrain eContent Award
BBK newsletter
CINET
BBK Press releases
Latest News
Archives
Financial News
Latest News
Archives
Internet Banking
Retail login
Help
|
Alert
What do you want to do?
Select here
Access Retail Internet Banking
Home
Media Center
Financial News
Archives
Archives
02-04-23
Türkiye's Trade Deficit Expands by 51.4 percent in February
(MENAFN) Türkiye's trade deficit expanded by 51.4 percent from the previous year to USD 12.1 billion in February, according to official data released by the Turkish Statistical Institute (TurkStat) on Friday. The country's exports fell by 6.4 percent YoY to USD 18.6 billion in January, while imports increased by 10.1 percent YoY to USD 30.7 billion.
The exports-to-imports coverage ratio decreased to 60.7 percent in February 2021, compared to 71.4 percent in the same month the previous year. However, when excluding energy products and non-monetary gold, Türkiye saw a foreign trade deficit of USD 2.5 billion last month.
Türkiye's largest outbound shipments in February were to Germany with a worth of USD 1.7 billion, followed by Italy with USD 1.12 billion, the US with USD 1.09 billion, Russia with USD 1.01 billion, and the UK with USD 851 million.
On the other side of the ledger, the largest amount of outbound shipments were made from Russia with USD 4.2 billion, followed by Switzerland with USD 3.5 billion, China with USD 3.1 billion, Germany with USD 2.08 billion, and Italy with USD 1.16 billion.
The increase in imports and decrease in exports have contributed to the widening of Türkiye's trade deficit in February. This trend is concerning for the country's economy as it puts pressure on the Turkish lira and may lead to inflation. The government may need to implement measures to boost exports and reduce imports to address this issue.
MENAFN02042023000045014228ID1105928973
View complete sitemap
Personal
Accounts
Loans
Mortgage
eBanking
ATM
Internet Banking
SMS Banking
NRI Business
Other Services
Corporate
Corporate Banking
International Banking
Syndicated Loans
Trade Finance
Long Term Finance
Working Capital Facilities
SMEs Facility Application – Law (2) – 2021
Investor Relations
Our Strategy
Financials
LCR Reports
Financial News
BBK News
Local & Global Market
Shareholder's Queries
Customer Service
Branch Timing
Request for Support
Security Center
FAQ
BBK tariffs
Tutorials
Customer Protection
Contact Us
About Us
About Us
BBK Network
Subsidiaries
Board of Directors
Executive Management
Divisions
Corporate Governance
Follow us