Turkey November Trade Deficit Widens

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Turkey's trade deficit stood at $3.71 billion in November compared to $2.68 billion a year ago, the Turkish Statistical Institute reported on Wednesday. Exports dropped 5.2% year-on-year to $8.91 billion, while imports were up 4.5% to $12.62 billion.

Exports to the European Union increased 1.7% annually to $4.42 billion in November. Major destination markets include Germany, the United Kingdom, France, and Italy.

In the first eleven months of the year, exports were down 25.9% compared to the corresponding period of the previous year while imports slid 34.1% to record a cumulative trade deficit of $33.49 billion.

Turkey's trade deficit stood at $3.71 billion in November compared to $2.68 billion a year ago, the Turkish Statistical Institute reported on Wednesday. Exports dropped 5.2% year-on-year to $8.91 billion, while imports were up 4.5% to $12.62 billion. (Market News Provided by RTTNews)