Turkey’s Trade Deficit Falls

The foreign trade deficit of Turkey fell by 10.3% to reach $4.49 billion in March, compared to the same month last year, the Turkish Statistical Institute reported on Friday, Anadolu Agency reported. TurkStat’s data showed that exports increased by 13.6% to $14.49 billion in March, compared to the same month in 2016, while imports soared by 6.9% to $18.98 billion year-on-year. The report revealed that Turkey’s imports from the EU made up 46.7% of the total imports, a 2.4% decrease from 49.1% in March 2016. Exports to Europe increased by 8.1% compared to last year, reaching $6.77 billion in March.