Turkey's exports on the rise in April

Turkey’s year-on-year trade deficit rose by 15.8 per cent in April to over $4.9 billion, according to a preliminary estimate revealed by the Customs and Trade Ministry today.

Exports for the month rose to $12.83 billion, which is a 7.83 per cent increase from April 2016, according to the estimate. Imports also increased by 9.58 per cent to $17.74 billion.

In April, the country’s total foreign trade volume soared by 8.65 per cent year-on-year to reach $30.58 billion, it said.

Turkey exported goods worth $1.13 billion to Germany, its largest market; exports to the UAE amounted to $1.2 billion while exports to Iraq were $857 million.

China ($1.65 billion), Germany ($1.63 billion) and Russia ($1.46 billion) were the main sources of imports.

On Friday, Turkish Statistical Institute revealed that Turkey’s foreign trade deficit narrowed by 10.3 per cent year-on-year in March to reach $4.5 billion.

Meanwhile, Turkish exports advanced four per cent year-on-year to reach almost $11.9 billion in April on the back of performances by the steel, automotive, mining and jewellery sectors, the country’s main exporters’ association said yesterday.