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Turkey’s foreign trade deficit increases by 15 percent in February

Turkey's foreign trade deficit increased by 15 percent in February to reach $3.693 billion, according to the data released by the Turkish Statistical Institute (Turkstat) on Friday.

Published March 31,2017
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Exports decreased by 1.9 percent compared to the same month last year, standing at $12.127 billion, while imports surged by 1.6 percent to $15.82 billion.

The exports imports coverage rate fell from 79.4 percent in February 2016 to 76.7 percent.

Compared with the previous month, seasonally and calendar adjusted exports and imports increased by 1.8 percent and 1.7 percent, respectively. Calendar adjusted exports and imports increased by 0.7 percent and 5.5 percent compared with February 2016.

Exports to the EU-28 decreased by 3.2 percent from $5.723 billion to $5.539 billion. The share of the EU countries in total exports was 45.7 percent in February 2017 while it was 46.3 percent in February 2016.

In February 2017, the main partner country for exports was Germany with $1.119 billion, which was followed by the UAE with $938 million, Iraq with $725 million and the United Kingdom with $702 million.

The top country for Turkey's imports was China with $1.643 billion, which was followed by Germany $1.439 billion, Russia with $1.304 billion and France with $767 million.

The ratio of manufacturing industries products in total exports was 93.9 percent in February. The ratio of high-technology products in manufacturing industries exports was 3 percent. The ratio of medium-high-technology products in was 33.4 percent.

The ratio of manufacturing industries' products in total imports was 80 percent. The ratio of high-technology products in manufacturing industries' imports was 16.1 percent in February 2017. The ratio of medium-high-technology products was 42.5 percent.