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Turkey Trade Deficit Widens In February

Turkey’s trade deficit widened in February from the previous year on higher imports, the Turkish Statistical Institute said on Thursday.

The trade shortfall increased sharply to $7.88 billion in February from $3.35 billion in the last year.

Exports increased 25.4 percent annually and imports logged an annual growth of 44.5 percent. Exports coverage imports was 71.7 percent, while it was 82.7 percent in the previous year.

Excluding energy products and non-monetary gold, the foreign trade deficit was $560 million in February.

During January to February, the trade deficit increased to $18.15 billion from $6.4 billion in the same period of 2021.

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