Turkey's exports total nearly $60B in January-April

By Muhammed Ali Gurtas

ANKARA (AA) - Turkey's exports totaled $59.8 billion in January-April this year, the country's Trade Ministry announced Friday.

According to the general trade system, the ministry said exports surged 3.77% on a yearly basis.

The country's imports amounted to some $68.6 billion, marking an annual decrease of 19.82% over the same period.

The ministry stated that the four-month exports-to-imports coverage ratio was 87.2%.

Pointing out the monthly data, the ministry said Turkey's exports rose by 5.38% year-on-year to nearly $15.3 billion in April.

Imports in April posted a 14.62% annual decline to $18.1 billion, according to general trade system.

Preliminary figures revealed that the country's foreign trade balance in April showed a deficit of $2.8 billion, improving from $6.7 billion deficit a year ago.

In the calculation of foreign trade statistics, two different methods are used -- the special trade system and the general trade system.

Calculations based on the special trade system do not include free zones and customs warehouses.

The general trade system is a wider concept, including customs warehouses, all types of free zones, free circulation area and premises for inward processing.

On the last business day every month, Turkey's statistical authority releases the final foreign trade figures for the previous month, as the Ministry of Trade announces preliminary general trade system data in the first week of every month.