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.