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Turkey’s foreign trade contracts down by 2.8 percent

World Materials 31 January 2017 16:16 (UTC +04:00)

Baku, Azerbaijan, Jan. 31

By Orkhan Quluzade – Trend:

The volume of Turkey’s foreign trade amounted to $341.2 billion in 2016, which is 2.8 percent less than in 2015, says the report of the Turkish Statistical Institute.

The volume of exports of Turkish goods amounted to $142.6 billion in 2016, while the volume of imports was $198.6 billion.

Germany, which imported products worth $14 billion in 2016, ranks first in the Turkish exports. The UK ranks second with $11.6 billion and Iraq ranks third with $7.6 billion.

The biggest decline was observed in exports to Russia - Turkey exported products worth $1.733 billion to this country in 2016, which is 51.7 percent less than in 2015.

As for Turkish imports, China ranks first by exporting products worth $25.4 billion to Turkey in 2016, while Germany ranks second with $21.4 billion and Russia ranks third with $15.1 billion.

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Follow the author on Twitter: @o_quluzade

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