Data from the Turkish Statistical Institute showed that Turkey’s foreign trade deficit rose 60.7% year-on-year to $8.8 billion in November, while imports increased 14%.
The data showed that imports amounted to $30.66 billion, while exports rose 2.1% to $21.9 billion.
According to the data, the deficit in January-November increased by 153.4% to $99.8 billion.
Under an economic program unveiled last year, Turkey aims to shift to a current account surplus through increased exports and lower interest rates despite high inflation and the lira’s decline in past years.
The rise in global energy and commodity prices made it difficult to achieve this goal. The Turkish trade balance deficit rose 60% in November
Data from the Turkish Statistical Institute showed that Turkey’s foreign trade deficit rose 60.7% year-on-year to $8.8 billion in November, while imports increased 14%.
The data showed that imports amounted to $30.66 billion, while exports rose 2.1% to $21.9 billion.
According to the data, the deficit in January-November increased by 153.4% to $99.8 billion.
Under an economic program unveiled last year, Turkey aims to shift to a current account surplus through increased exports and lower interest rates despite high inflation and the lira’s decline in past years.
The rise in global energy and commodity prices made it difficult to achieve this goal.
