Turkey’s trade deficit widened in October from the previous year, as imports rose faster than exports, the Turkish Statistical Institute said on Tuesday.
The trade deficit increased to $7.874 billion in October from $4.33 billion in the last year. In September, the trade deficit was $9.6 billion.
Exports rose 3.0 percent annually in October and imports gained 31.4 percent.
Excluding energy products and non-monetary gold, the foreign trade surplus was $1.129 billion in October.
On a seasonally adjusted basis, exports declined 2.9 percent monthly in October and imports fell 4.6 percent.
On a calendar adjusted basis, exports and imports climbed by 2.6 percent and 29.6 percent, respectively.
During the January to October period, the trade deficit advanced 168.3 percent year-on-year to $91.049 billion. Exports and imports rose by 15.4 percent and 39.4 percent, respectively.