Baku, Azerbaijan, May 31
By Orkhan Quluzade – Trend:
Deficit of balance of Turkey’s foreign trade operations increased by 7.1 percent in January-April 2017, as compared to the same period of 2016, and amounted to $17.5 billion, says a report of the Turkish Statistical Institute (TUIK) published on May 31.
During the period, Turkish export rose by 8.7 percent and import to the country increased by 8.3 percent, as compared to the same period of 2016.
The volume of Turkish export totaled $50.674 billion in January-April 2017. This volume was $46.622 billion in the same period of 2016.
In January-April 2017, Turkey imported goods worth $68.202 billion, while this figure was $62.984 billion in the same period of 2016.
Germany ranks first among Turkey’s big trade partners: the country imported goods worth $4.653 billion from Turkey and exported goods worth $6.771 billion in January-April 2017.
The biggest growth rate in Turkey’s trade was observed with the United Arab Emirates (UAE) in January-March 2017: Turkey’s export to the UAE rose by 194 percent and amounted to 3.644 billion. Meanwhile, the Turkish import from the UAE increased by 206 percent and amounted to $2.067 billion in the period.
Moreover, Turkey’s export to Russia rose by 36.5 percent and reached $660 million in January-April 2017. Meanwhile, the import of goods from Russia by Turkey increased by 15.7 percent and was brought up to $5.878 billion in the period. Thus, the deficit of balance of current foreign trade operations of Turkey with Russia amounted to $5.218 billion.
In January-April 2017, Turkey’s export to Iran decreased by 26.5 percent and amounted to $1.054 billion, while import from Iran rose by 67.2 percent and reached $2.501 billion.
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