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Turkey’s foreign trade deficit decreases 42.5 pct in June

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The Turkish Statistical Institute (TurkStat) on Wednesday released the country’s provisional foreign trade statistics for June, which point to a 42.5 percent decrease in June 2019 compared to the same month of last year.

According to the data exports stood at $11.82 billion, representing a 14.3 percent year-on-year decrease, and imports showed a sharper decrease of 22.7 percent, dropping to $14.26 billion.

The export-to-import ratio rose to 77.7 percent last month, up from 70.1 percent in June 2018.

Compared to the previous month, seasonally and calendar adjusted exports increased by 15.5 percent, while imports remained stable with a slight decrease of 0.2 percent.

Germany maintained its position as the main export partner with $1.74 billion, followed by the United Kingdom, $685 million; France, $640 million; and Italy with $613 million.

In imports Russia ranked first at $1.54 billion, followed by China, $1.28 billion; Germany, $1.19 billion; and the United States at $919 million.

A total of 94 percent of exports were manufactured goods, of which 3.5 percent comprised high tech items, while manufactured goods accounted for 76.5 percent of total imports, 13.9 percent of which was high tech.

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