60 pct of foreign trade deficit stems from Russia and China in January
Posted by meb at March 9th, 2007
Turkey had a foreign trade deficit amounting to USD 3.1 billion in January 2007. Out of this figure, 60 percent (USD 1.8 billion) originated from the trade with Russia and China. Turkey’s foreign trade deficit with Russia rose by 13.4 percent in January 2007 when compared to January 2006, while this rate was 43.7 percent with China.
According to the data of the Turkish Statistics Institute (TÜİK), Turkey made exports worth USD 6.4 billion in January 2007, while its imports totaled USD 9.6 billion. Turkey’s foreign trade deficit in January 2007 rose by 4.3 percent when compared to January 2006 and reached USD 3.1 billion. Turkey’s exports were USD 5.1 billion and imports were USD 8.1 billion in January 2006. During this period, Turkey’s total foreign trade deficit was USD 3 billion.
Out of this figure, 60 percent (USD 1.8 billion) originated from the trade with Russia and China. These countries were followed by Iran, Switzerland, South Korea, the US and Germany. The foreign trade deficit stemming from these five countries constituted 41.3 percent of the total deficit.
Deficit with Russia increases by 13.4 pct in January
During this period, Turkey’s trade deficit with Russia increased by 13.4 percent when compared to the same period in 2006 and totaled USD 1.171 billion. Turkey made exports worth USD 269.5 million to Russia and imports worth USD 1.441 billion from this country. Turkey’s exports to Russia rose by 99 percent, while its imports from this country increased by 23.3 percent.
Deficit with China rises by 43.7 pct
Turkey’s foreign trade deficit with China rose by 43.7 percent in January 2007 when compared to January 2006 and amounted to USD 698.3 million. Turkey’s exports to China increased by 55.81 percent and rose from USD 35.3 million to USD 55.1 million. Turkey’s imports from China rose by 44.5 percent and increased from USD 521.3 million to USD 753.5 million.
During this period, Turkey’s foreign trade deficit with Germany fell by 57.7 percent and dropped from USD 343.4 million to USD 145.2 million. Turkey’s exports to Germany increased by 22.7 percent and rose from USD 623.2 million to USD 764.9 million. Turkey’s imports from this country decreased by 5.8 percent and totaled USD 910.2 million. Turkey’s exports to Iran last year rose by 46.8 percent and totaled USD 78 million, while its imports from this country increased by 74.5 percent and totaled USD 560.4 million. The deficit in Turkey’s foreign trade with Iran rose by 80 percent and reached USD 482.3 million.
In January 2007, Turkey’s exports to South Korea climbed by 59.2 percent and reached USD 35.3 million, while its imports from this country rose by 2.9 percent and fell to USD 144.1 million. This country’s foreign trade deficit was USD 108.7 million. Turkey’s exports to Switzerland last year fell by 39.8 percent and totaled USD 41.6 million, while its imports from this country rose by 71.2 percent and totaled USD 335.2 million. Turkey’s foreign trade deficit with this country rose by 131.7 percent and totaled USD 293.6 million.
Turkey achieved the highest surplus in foreign trade with Britain in January. Turkey’s surplus in the trade made with this country was USD 81.9 million in January 2007.
source: The New Anatolian
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