Turkey's foreign trade deficit down in July

By Muhammed Ali Gurtas

ANKARA (AA) – Turkey's foreign trade balance ran a $5.98 billion deficit in July, marking a year-on-year fall of 32.6 percent, Turkish Statistical Institute (TurkStat) announced on Wednesday.

Last month, the country's exports amounted to $14.07 billion with a 11.6 percent annual hike, while imports totaled $20.05 billion with a 6.7 percent decrease, compared with July 2017.

"In July 2018, exports coverage imports was 70.2 percent while it was 58.7 percent in July 2017," TurkStat said.

The institute noted that from January to July this year, exports were $96.27 billion — up 7 percent on a yearly basis — and imports were some $143 billion with an annual hike of 10.2 percent.

According to the official figures, the seven-month trade balance showed a deficit of $46.75 billion, up 10.2 percent over the same period last year.