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Turkey's Exports Rise in November Despite The Widening Trade Deficit


Turkish exports rose by 1.9 percent year-on-year in November, according to Turkish Trade Minister Mehmet Moush's remarks on Friday.

Mosh said that his country's exports increased by 1.9 percent to $21.9 billion in November, while imports reached $30.7 billion in the same month.

According to Reuters calculations based on Trade Ministry data, Turkey's trade deficit jumped 65 percent year-on-year in November to $8.8 billion, as rising gold and energy import costs continue to widen the deficit.

Turkey's trade deficit jumped by 421.7 percent last October on an annual basis, to reach $7.87 billion, with imports rising by 31.4 percent, according to data from the Turkish Statistical Institute.

Imports amounted to $29.2 billion, while exports rose only 3 percent to $21.33 billion.

Turkey aims, through an economic program announced last year, to turn into a surplus in the current account balance, by increasing exports and lowering interest rates, despite high inflation and currency depreciation.

The global rise in energy and commodity prices has put this goal out of reach.

journalist since 2011, member of the Journalists Syndicate, graduate of the University of Montreal, Journalism and News Editing Division, media advisor, He writes about health, skin care and relaxation.