- Trade with Turkey

Turkish foreign trade deficit 30 pct less worrying in June

The national foreign trade deficit plummeted by some 30 percent in June over a year ago, the Turkish Statistics Institute (TurkStat) said on Tuesday, lifting spirits at the government level that the economy finally seems to have dealt a decisive blow to probably the most delicate issue it faces.

Exports increased by nearly 17 percent to $13.26 billion, and imports decreased by more than 5 percent to drop to $20.4 billion in June compared to the same month a year earlier, according to the institute's data. Thus, the foreign trade deficit of the country was $7.2 billion for the sixth month of the year. It was more than $10 billion in June of last year.


Turkish exports decline by 5.5 pct in July over last year, TİM data reveals

Turkish exports dropped by 5.5 percent in July, to $10.85 billion, compared to the same month the previous year, the Turkish Exporters Assembly (TİM) announced on Wednesday.

According to data provided by TİM, although the export volume decreased in July, total exports for the first seven months of the year represent an increase of 10.1 percent, to $85.2 billion. Moreover, total exports for the last 12 months exceeded $142.6 billion, a rise of 12.3 percent year-on-year. The data show that Turkey exported to 238 countries in the period from January to July, compared with 216 last year.


Turkey and South Korea sign free trade agreement

Trade with TurkeyTurkish Economic Minister Zafer Çağlayan and South Korean Minister of Foreign Affairs and Trade Kim Sung-hwan signed a free trade agreement between the two countries on Wednesday.


Exporters worried by hot money inflows

Trade with TurkeyThe Turkey Exporters Union (TİM) is worried that an inflow of liquidity into Turkey could lead to a new wave of exchange rate volatility, TİM President Mehmet Büyükekşi said yesterday.


Turkey to be Europe's number five economy by 2030, says ING bank

Trade with TurkeyBy 2030 Turkey will be Europe's fifth largest economy and a key trading hub between Western Europe and developing Middle Eastern and Asian economies, says a report published over the weekend by the Dutch bank ING.