ANKARA (AA) – Turkey’s foreign trade deficit fell year-on-year in April, according to the Customs and Trade Ministry on Monday.
Exports for the month fell 9.88 percent from April last year to $11.99 billion while imports dropped 11.62 percent to $16.2 billion, the ministry said in a preliminary estimate.
The decline in imports has outpaced the fall in exports for the eight months in a row, pushing the deficit down by 16.2 percent year-on-year to $4.2 billion.
The rate of exports to imports rose to 74 percent, up from 72.6 percent in same month of last year – meaning Turkey is exporting more than previously.
The country exported goods worth $1.2 billion to Germany, its largest market. Turkish exports to the U.K. amounted to $830 million while exports to Italy were $630 million.
China ($1.8 billion), Germany ($1.8 billion) and Russia ($1.15 billion) were the main sources of imports.
