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Turkey’s exports rise to $13.15 billion in August

Turkish Economy
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The upward trend in Turkish exports continued in August, rising 1.69% year-on-year to reach $13.15 billion, Trade Minister Ruhsar Pekcan announced Wednesday.

The country’s imports last month amounted to $15.5 billion, down 0.27% year-on-year.

The foreign trade deficit in August fell 9.88% to $2.38 billion, Pekcan noted.

In the first eight months of the year, Turkey’s exports rose 2.9%, reaching $117.2 billion, she said.

In January-August, the exports-to-imports coverage ratio jumped to 85.6% from 69.2% in the same period last year.

Turkey’s New Economic Program (NEP) projects for exports to hit $182 billion by the end of 2019.

In 2018, Turkey’s exports hit an all-time high of $167.9 billion, while the figure was nearly $157 billion in the previous year, according to official data.

Over the last decade, the highest annual export-to-import ratio was recorded last year at 75.3%, while Turkey’s foreign trade deficit fell from $106 billion in 2011 to $55 billion in 2018Turk

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