Turkey: Foreign trade gap narrows 76.5% in May

Turkish exports surge 12.1% to nearly $16B while imports decline 19.3% to $17.8B last month

By Tuba Sahin

ANKARA (AA) - Turkey's foreign trade deficit decreased significantly in May, according to the Turkish Statistical Institute (TurkStat) on Friday.

The figure fell 76.5% year-on-year to hit $1.84 billion last month, TurkStat said in a statement.

Turkey's exports went up 12.1% on a yearly basis to nearly $16 billion in May, while imports saw an annual decline of 19.3% to hit $17.8 billion.

The exports-to-imports coverage ratio rose to 89.7% last month, up from 64.6% in May 2018.

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