Turkey's Foreign Trade Deficit Soars By 17.2 Percent In March (2)

Istanbul, April 30 (DHA) - Turkey's trade deficit soared by 17.2 percent in March, fuelled by sharp fall in exports, according to the Foreign Trade Statistics data released by Turkstat on Thursday.

According to the data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in March exports fell by 14.4 percent to 12.57 billion dollars and imports fell by 6.1 percent to 18.72 billion dollars in March.

In the same month, foreign trade deficit increased by 17.2 percent from 5 billion 251 million dollars to 6 billion 154 million dollars.

In March 2015, exports coverage imports was 67.1 percent, while it was 73.7 percent in March 2014.

Exports to the European Union fell by 11.8 percent to 5.34 billion dollars in March, from 6.06 billion dollars in the same period of last year.

The share of the exports to the EU countries rose to was 42.5 percent in March, up from 41.2 percent in March 2014, despite the decrease, due to big drop in total exports.

The biggest export market was Germany with 1.08 billion dollars in March. followed by The United Kingdom with 1.03 billion dollars, Iraq with 745 million dollars and United Arabian Emirates with 597 million dollars.

China was the biggest exporter to Turkey in March with 2.35 billion dollars, followed by Russia with 2.19 billion dollars, Germany with 1.81 billion dollars and Italy with 960 million dollars.

The share of high-technology products exports in total exports stood at 3.7 percent in March, while the share of high-technology products imports in total imports stood at 13.5 percent in the same month.

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