Turkey foreign trade deficit down 49% to $4.236b in Nov

ANKARA: The foreign trade deficit has decreased by 49.1 percent over the course of one year, falling from $8.317 billion in November 2014 to $4.236 billion in November 2015, according to data released by the Turkish Statistical Institute (TurkStat) on Thursday.

Exports decreased by 10.2 percent and reached $11.738 billion while imports decreased by 25.3 percent to $15.974 billion, compared to the same period of last year.

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Exports to the EU-28 decreased by 1.5 percent $5.631. The proportion of the EU countries in total exports was 48 percent in November 2015, while it was 43.8 percent in November 2014.

In November 2015, the main partner country for exports was Germany with $1.199 billion, according to the figures released by the TurkStat. Germany was followed by the United Kingdom ($867 million), Iraq ($789 million) and Italy ($616 million).

The top country for the imports was China with $2 billion, followed by Germany ($1.727 billion), Russia ($1.374 billion) and Italy ($883 billion).