Middle East

Turkey’s exports surge in November and the January-November trade deficit shrinks

The country’s imports in November 2021 increased by 27.3% to $ 26.9 billion, while the overall trade deficit decreased from January to November compared to the same period last year.

From January to November, Turkey’s exports increased by 33.8% on an annual basis to reach $ 203.1 billion. (Getty Images)

Turkey’s imports and exports increased by 33.7% and 27.3% annually to reach $ 21.5 billion and $ 26.9 billion, respectively.

The Turkish Institute of Statistics (TurkStat) reported on Friday that the country’s foreign trade deficit increased by 6.9% on an annual basis to reach about $ 5.4 billion.

The import / export coverage rate in November was 79.8%.

Excluding energy and gold trade, Turkey’s exports and imports were $ 19.9 billion and $ 20.2 billion, respectively.

According to TurkStat, the foreign trade deficit in November (excluding energy products and non-gold gold) was $ 315 million.

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January-November trade deficit decreases

From January to November, Turkey’s exports increased 33.8% on an annual basis to $ 203.1 billion and imports increased 23% to $ 242.44 billion.

The 11-month trade balance was a deficit of $ 39.35 billion, down 13.2 percent compared to the same period in 2020.

“Export coverage imports were 83.8%, compared to 77% from January to November 2020,” he added.

Foreign investment

In early December, Turkey’s Trade Minister Mehmetmu said that many EU countries and the United States have shifted their investment in Turkey through the supply network in the midst of the Covid-19 outbreak, with Turkey benefiting from its location and competitiveness. He said he started to receive.

These results show that Turkey’s export growth is permanent rather than temporary, and Turkey is adopting new investments and business models as a strong and reliable supplier, Mus said. increase.

“It’s a shallow approach to attribute good export performance to the exchange rate alone,” he added.

read more: Turkey’s exports reached a record $ 21.5 billion in November

Source: AA

https://www.trtworld.com/turkey/turkiye-s-exports-soar-in-november-jan-nov-trade-deficit-shrinks-53172?utm_source=other&utm_medium=rss Turkey’s exports surge in November and the January-November trade deficit shrinks

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