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Turkey’s foreign trade deficit exceeds $5 billion in March

Business Materials 30 April 2014 15:06 (UTC +04:00)

Baku, Azerbaijan, April 30

By Rufiz Hafizoglu - Trend:

Turkey increased its exports by 12.4 percent in March, 2014, compared to the same month of 2013, a message posted on the website of the country's Statistical Institute said on April 30.

Thus, the country's exports stood at $14.748 billion during the reporting period, according to the Statistical Institute.

The message highlights that Turkey's imports fell by three percent in March, amounting to $19.943 billion, compared to the same month of 2013.

The country's foreign trade turnover was equal to $34.691 billion, while its foreign trade balance was negative and stood at $5.195 billion in March.

Turkey's export to the EU countries totaled $6.84 billion during the reporting period, the Statistical Institute's message said.

The official statistics says Turkey exported around $1.364 billion worth of goods to Switzerland (while some $1.275 billion of this amount fell to gold exports), followed by the country's exports to Germany - $1.334 billion, Iraq - $1.1 billion and UK - $848 million.

The import of Russian goods to Turkey increased by 11.6 percent in March, compared to the same month of 2013, and amounted to $2.181 billion, according to the Statistical Institute.

The country's imports from China stood at $2.43 billion, from Germany - $1.984 billion and from the U.S. - $1.135 billion.

Translated by L.Z.

Edited by S.I.

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