Turkey’s Trade Deficit Rises by 51% in July on an Annual Basis

Data from the Turkish Statistical Institute showed that the country’s foreign trade deficit rose 51.3% year on year in July to $4.278 billion according to the general trade system.

The institute said that after the damage to trade a year ago due to the Corona pandemic, Turkey’s exports rose 10.2% and imports increased 16.8% compared to July 2020.

In the first seven months of the year, the trade deficit narrowed 4.7% to $26.72 billion.