Turkey's Ministry of Trade survey results of foreign trade expectations for the last quarter of 2018 show a downward revision of 6.4 points in exports for the fourth quarter of 2018 from 118 in the July-September period this year, the ministry announced Monday.
The export expectation index fell to 111.6 in the fourth quarter of the year, according to a statement from the ministry. In comparison, the index value was 123.7 points in the October-December period of 2017.
For imports, the expectation index decreased by 13 points to 100.1 in the last quarter of 2018, versus 113.1 points in the third quarter of this year.
The survey results also showed the import expectation index stood at 112.8 points in the fourth quarter of 2017.
The foreign trade expectation survey reflects assessments of Turkish foreign trade based on recent and current situations along with future expectations of leading firms.
Both indices with a value over 100 points indicate a rising expectation, while the value below 100 points shows a downward outlook for the coming periods.
According to the country's statistical authority, TurkStat, the foreign trade deficit saw an annual fall of 59 percent in August, dropping to $2.4 billion compared with $5.9 billion in the same month last year.
As of August, Turkey's eight-month exports totaled $108.6 billion and imports amounted to $157.8 billion.
In 2014, Turkey's exports hit an all-time high of $157.6 billion compared to nearly $157 billion last year.
Over the past five years, the highest export-to-import ratio on a yearly basis was recorded in 2016 at 71.8 percent, while Turkey's foreign trade deficit had fallen from $99.8 billion in 2013 to $76.8 billion in 2017.
By Muhammed Ali Gurtas
Anadolu Agency
energy@aa.com.tr