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Turkey’s foreign trade deficit shrinks by 46.9 pct year-on-year in July

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Turkey’s foreign trade deficit narrowed 46.9 percent year-on-year in July to $3.192 billion, data from the Turkish Statistical Institute (TurkStat) showed on Thursday, Reuters reported.

Turkey’s exports rose 7.9 percent and imports decreased 8.5 percent compared to July 2018, the institute said.

“In July 2019, the main partner country for exports was Germany with $1.379 billion. The country was followed by the United Kingdom with $1.0 91 billion, Iraq with $770 million and France with $741 million,” it added.

Meanwhile, Russia ranks first in Turkey’s imports in July with over $2 billion. It is followed by Germany with $1.728 billion, China with $1.663 billion and the US with $1.324 billion.

A total of 3.3 percent of Turkey’s exports were high-technology products, according to TurkStat.

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