Economy

Turkey's exports climb 4.8% in September

Foreign trade deficit amounts to $4.8B last month, says statistical authority

Tuba Sahin   | 30.10.2020
Turkey's exports climb 4.8% in September

ANKARA

Turkish exports increased 4.8% on an annual basis in September, according to the nation's statistical authority on Friday.

The figure hit $16 billion, the Turkish Statistical Institute (TurkStat) said in a statement on Friday.

Turkey's imports amounted to $20.8 billion last month, a year-on-year rise of 23%.

As imports increased at a faster pace than exports, the country's foreign trade deficit was up at $4.8 billion during the same period.

According to preliminary data from the Trade Ministry on Oct. 2, Turkey saw an all-time high September export figure this year with $16.13 billion.

The exports-to-imports coverage ratio was 76.8% this September, down from 90.2% in the same month last year. 

The country's main trading partner Germany received $1.5 billion worth of Turkish exports last month.

"The country was followed by the UK with $1.1 billion, the US with $947 million, and Italy with $799 million," TurkStat said.

The top country for Turkey's imports was China with $2.2 billion last month, followed by Germany and Russia with $2.1 billion and $1.6 billion, respectively.

- 9-month figure 

In January-September, Turkey's foreign trade deficit widened 80% on an annual basis to $37.9 billion.

The country's exports amounted to $118.3 billion, down 10.9% while imports were $156.2 billion, rising 1.5% the first nine months of this year.

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