FX.co ★ Turkish Trade Deficit Widens In May

Turkey's trade deficit widened in May from the previous year, as imports rose faster than exports, the Turkish Statistical Institute said on Thursday.

The trade deficit rose to $10.605 billion in May from $4.156 billion in the last year. In April, the trade deficit was $6.1 billion.

Exports increased 15.3 percent annually in May and imports grew 43.5 percent.

Excluding energy products and non-monetary gold, the foreign trade surplus was $3.750 million in May.

On a seasonally adjusted basis, exports declined 7.6 percent monthly in May, while imports rose 4.6 percent.

On a calendar adjusted basis, exports and imports grew 12.3 percent and 40.0 percent, respectively.

During January to May, the trade deficit increased 136.0 percent year-on-year to $43.206 billion.