Turkey's foreign trade gap narrows in May
Turkey's foreign trade deficit decreased significantly in May, according to the Turkish Statistical Institute (TurkStat) on Friday.
THE FOREIGN TRADE DEFICIT
The figure fell 76.5 percent year-on-year to hit $1.84 billion last month, TurkStat said in a statement. Turkey's exports went up 12.1 percent on a yearly basis to nearly $16 billion in May, while imports saw an annual decline of 19.3 percent to hit $17.8 billion.
The exports-to-imports coverage ratio rose to 89.7 percent last month, up from 64.6 percent in May 2018.