FX.co ★ Turkish Trade Deficit Widens In October

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

The trade deficit increased to $7.874 billion in October from $4.33 billion in the last year. In September, the trade deficit was $9.6 billion.

Exports rose 3.0 percent annually in October and imports gained 31.4 percent.

Excluding energy products and non-monetary gold, the foreign trade surplus was $1.129 billion in October.

On a seasonally adjusted basis, exports declined 2.9 percent monthly in October and imports fell 4.6 percent.

On a calendar adjusted basis, exports and imports climbed by 2.6 percent and 29.6 percent, respectively.

During the January to October period, the trade deficit advanced 168.3 percent year-on-year to $91.049 billion. Exports and imports rose by 15.4 percent and 39.4 percent, respectively.