Posted by meb at February 5th, 2007

Nearly half of Turkey’s $52 billion foreign trade deficit — 44.6 percent — for 2006 stemmed from trade with Russia and China. Turkey’s foreign trade deficit with Russia increased by 35.5 percent and by 39.9 percent with China last year. In 2006, 75.2 percent of the total deficit arose from  trade with only six countries. The deficit with Russia was $14.3 billion and with China $8.9 billion. Germany came third with $4.9 billion, and the trade deficit with Iran was $4.6 billion. The deficit with South Korea increased to $3.3 billion. Turkey’s highest foreign trade surplus was with Iraq last year, although it shrunk by 4.3 percent, amounting to $2.2 billion in 2006. Other trade surpluses include: $755 million with Israel, $772 million with the Turkish Republic of Northern Cyprus, $559 million with Greece, $420 million with Syria and $360 million with Azerbaijan.

source: www.todayszaman.com

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