Türkiye's foreign trade deficit at $6.6B in May

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye's foreign trade deficit was at $6.6 billion in May, the Turkish Statistical Institute (TurkStat) announced on Monday.

The country's exports totaled $24.8 billion in the month, up 2.6%, while imports amounted to $31.46 billion, up 2.7%.

Excluding energy and non-monetary gold, the foreign trade deficit was $1.89 billion.

In May, the ratios of the manufacturing industries products sector, agriculture, forestry and fishing sector, and the mining and quarrying sector in total exports were 95%, 3%, and 1.4%, respectively.

High-tech's share in the manufacturing side rose 7% to 4%, and medium-high tech's share climbed 10.8% to 38.9% year-on-year in May.

The top destination country for Turkish exports was Germany with $2.96 billion, followed by the UK with $1.54 billion and the US with $1.51 billion.

China was the top source of imports to Türkiye with $4.31 billion, followed by Russia with $3.26 billion and Germany with $2.69 billion.

In January-May, the country's exports totaled $110.9 billion, up 3.4%, and imports were at $152.16 billion, up 5.8%.

The foreign trade deficit in the five-month period was at $41.25 billion.