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Turkey's trade deficit narrowed to US$2.57 billion in October from US$5.2 billion in the previous year, the Turkish Statistical Office said Friday. Economists expected the deficit to come in at US$3 billion.
Total exports climbed 3.9% annually to US$10.1 billion, while total imports fell 15.2% to US$12.67 billion.
During the January to October period, the trade deficit decreased to US$29.6 billion from US$63.5 billion deficit last year. Exports declined 27.6%, while imports were down 36.8%.
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