Trade deficit rises 41 percent in Jan-May 2018
Turkey’s exports totaled $69.3 billion, a 7.9 percent annual hike while imports reached $104.5 billion, a 17.2 percent increase. The country’s foreign trade balance ran a $35.2 billion deficit from January to May, marking a year-on-year rise of 41.4 percent. Turkey’s exports to the European Union in JanuaryMay 2018 surged 21 percent year-on-year, the country’s statistical authority announced on June 29. According to TurkStat, exports to the 28-member EU bloc accounted for some 51.4 percent of Turkey’s overall exports in the five-month period - totaling $35.6 billion - while imports from the EU were $39 billion, up 22 percent on a yearly basis.