Turkey’s exports rise by 15.7% year-on-year in June

Turkey's exports rose by 15.7% year-on-year in June to reach $13.5 billion, the country's statistical authority announced on Wednesday.

The country's imports also increased by 8.3% to stand at $16.3 billion in the month, versus the same month last year, the Turkish Statistical Institute (TurkStat) said.

The foreign trade deficit was $2.8 billion in June, down 17% compared to June 2019, it said.

In the month, exports coverage of imports was 82.6% while it was 77.2% in June 2019, the TurkStat added.

Turkey's exports totaled $167.92 billion and imports were $171.53 billion in 2019.

First half

Meanwhile, both export and import figures decreased by 15.1% and 3.2% respectively in January-June period this year. During this period, exports were $75.2 billion while imports stood at $98.9 billion compared to same period last year.

"The foreign trade deficit increased by 73.2% to $23.9B in January-June 2020," the report showed.

In the same period, exports coverage of imports was 75.9%, while it was 86.5% last year.

In June, the main partner country for exports was Germany with $1.2 billion dollars.

This was followed by the UK with $1.1 billion dollars, and the US with $790 million, Iraq with $701 million, and Italy with $628 million.

"The ratio of the first five countries in total exports was 32.8% in June 2020," the report indicated.

Meanwhile, the top country for Turkey's imports was China with $1.9 billion.

The country was followed by Germany with $1.5 billion, Russia with $1.1 billion, Iraq with $907 million and the US with $779 million.

The report also showed the ratio of first five countries in total imports was 38.8% in June.