Drop in Turkish trade deficit estimated for November

Customs and Trade Ministry estimate says deficit fell 3.8 percent year-on-year

By Fatih Erkan Dogan

ANKARA (AA) - Turkey’s year-on-year trade deficit fell 3.8 percent in November to $4.11 billion, the Customs and Trade Ministry said Friday.

Exports for the month rose to $12.85 billion, a 9.92 percent increase on November last year, according to a preliminary estimate from the ministry. Imports increased 6.25 percent to $16.96 billion.

The country exported goods worth $1.24 billion to Germany, its largest market. Turkish exports to the U.K. amounted to $877 million while exports to the U.A.E. were $832 million.

China ($2 billion), Germany ($1.82 billion) and Russia ($1.29 billion) were the main sources of imports.

On Wednesday, the Turkish Statistical Institute reported a 13.2 percent year-on-year actual deficit increase for October to $4.16 billion.

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