FX.co ★ Turkey Trade Deficit Widens In July

Turkey's trade deficit widened in July from the previous year, as growth in imports exceeded the increase in exports, the Turkish Statistical Institute said on Monday.

The trade deficit increased to $10.69 billion in July from $4.33 billion in the last year. In June, the trade deficit was $8.2 billion.

Exports rose 13.4 percent annually in July and imports gained 41.4 percent.

Excluding energy products and non-monetary gold, the foreign trade deficit was $2.943 billion in July.

On a seasonally adjusted basis, exports declined 5.5 percent monthly in July, while imports rose 2.2 percent.

On a calendar adjusted basis, exports and imports advanced 9.3 percent and 36.0 percent, respectively.

During January to July, the trade deficit increased 143.7 percent year-on-year to $62.18 billion.