Foreign trade deficit fell by 55.6 pct. annually in April

– Turkey's foreign trade deficit fell by 55.6 percent annually in April to 2 billion 982 million dollars.

According to Turkish Statistical Institute's (TurkStat) data, in April, compared to the same period of the previous year, exports rose by 4.6 percent while imports fell by 15.1 percent. During this period, foreign trade deficit fell by 55.6 percent to 2 billion 982 million dollars and exports coverage imports fell to 82.9 percent in April, down from 87.9 percent in March.

According to TurkStat data, exports rose by 4.6 percent to 14 billion 480 million dollars, while imports fell by 15.1 percent to 17 billion 462 million dollars in April, on an annual basis. Foreign trade volume fell by 7.2 percent to 31 billion 942 million dollars in April, down from 34 billion 423 million dollars, compared to the same period of the previous year.

Seasonally and calendar adjusted exports and imports fell by 3.8 percent and 2.4 percent, respectively, compared to the previous month. Calendar adjusted exports rose by 1.5 percent, while imports fell by 17.9 percent compared to March 2018.

In April, the main partner country for exports was Germany with 1 billion 243 million dollars. Germany was followed by the United Kingdom with 819 million dollars, Italy with 777 million dollars and Iraq with 754 million dollars. The top country for Turkey's imports was Russia with 1 billion 861 million dollars and it was followed by China with 1 billion 458 million dollars, Germany with 1 billion 454 million dollars and USA with 925 million dollars.

According to the ISIC Rev.3, the ratio of manufacturing industries products in total exports was 95 percent in April. The ratio of high-technology products in manufacturing industries exports was 3.2 percent, the ratio of manufacturing industries' products in total imports was 75.5 percent and the ratio of high-technology products in manufacturing industries imports was 12.9 percent in April 2019.

According to the general trade system in April, exports were 15 billion 267 million dollars with a 5.3 percent rise and imports were 18 billion 73 million dollars with a 14.8 percent fall compared to the same month of the previous year. Exports coverage imports was 84.5 percent in April 2019. (Table)