Turkey Trade Gap Narrows In August

(RTTNews) - Turkey's foreign trade gap decreased notably in August from the previous year as imports fell faster than exports, the Turkish Statistical Institute said on Tuesday.

The trade deficit dropped to $4.2 billion in August from $5.0 billion a year ago.

Excluding energy products and non-monetary gold, the foreign trade balance was a surplus of $0.34 billion.

In August, exports decreased by 1.2 percent annually, while imports fell at a comparatively faster pace by 3.9 percent.

The main partner country for exports during August was Germany, followed by the USA, UK, Italy, and Iraq.

On a seasonally and calendar-adjusted basis, both exports and imports declined by 5.4 percent and 4.8 percent monthly in August.