Turkey Trade Deficit Widens In October

(RTTNews) - Turkey's foreign trade deficit increased in October from the previous year as imports grew much faster than exports, the Turkish Statistical Institute said on Thursday.

The trade gap widened to $7.6 billion in October from $5.9 billion a year ago.

In October, exports increased by 2.0 percent annually, and imports surged by 7.2 percent.

The main partner country for exports during October was Germany, followed by the UK, USA, Iraq, and Italy. Data showed that Turkey's top import source country was China, followed by Russia, Germany, and Switzerland.

Excluding energy products and non-monetary gold, the foreign trade shortfall was $1.1 million.

On a seasonally and calendar-adjusted basis, both exports and imports increased by 1.7 percent and 4.8 percent, respectively.