EXPORTS RISE 1.7 PERCENT IN AUGUST
Turkey’s exports were worth $13.2 billion in August, up 1.7 percent from a year earlier, the country’s trade minister said on September 4.
Ruhsar Pekcan said the country’s imports inched down 0.27 percent on a yearly basis to $15.5 billion in the month.
Last month Turkey saw a nearly 10 percent annual decline in the foreign trade deficit to $2.4 billion, she added.
The foreign trade volume stood at $28.7 billion, up 0.62 percent during the same period bringing the exports-to-imports coverage ratio to around 85 percent.
Ismail Gulle, head of the Turkish Exporters’ Assembly, also said the automotive industry continues to be Turkey’s leading export sector with exports worth $1.7 billion last month followed by chemical products at $1.63 billion and ready-made garments and apparel at $1.4 billion.
The defense and aviation sector enjoyed the highest annual rise at 30.2 percent, Gulle added.
From January to August, Turkish exports rose three percent from the same period last year, hitting $117.3 billion.
The country’s imports amounted to $137 billion in the first eight months of this year, an annual rise of 17 percent.
As a result, Turkey’s foreign trade balance saw significant improvement, shrinking 61 percent during the same period.
Through the end of every month, Turkey’s statistical authority, TurkStat, releases the final foreign trade figures for the previous month while the Trade Ministry announces preliminary general trade system data in the first week of every month.