Turkish exports and imports grow in November, trade deficit widens

The provisional data released by the Turkish Statistical Institute showed that the exports and imports both rose in November. Exports rose 11.2 percent, while imports were up 21.3 percent on a year-on-year basis. The country’s foreign trade deficit came in at USD 6.32 billion in November, widening 52.4 percent on a year-on-year basis.

On a seasonally expected basis, exports were up 1.6 percent, whereas imports dropped 2.4 percent in November from October.

On a year-on-year basis, exports to the EU-28 were up 17 percent from USD 5.96 billion to 6.98 billion. The proportion of the EU nations was 49.1 percent in November. Meanwhile, the ratio of exports of high-tech products in manufacturing industries came in at 3.9 percent, whereas the ratio of imports of high-tech products in manufacturing industries came in at 15.7 percent.

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