Turkey’s Trade Deficit Fell 39% to $1.46 Billion in October

Turkey’s trade deficit narrowed 39% year-on-year to $1.46 billion in October, the Turkish Ministry of Trade said.

For his part, Minister of Commerce Mehmet Muş said that the ratio of exports to imports in the country reached 93.4 percent last month and that Turkey will reach a trade surplus soon.

Exports in October rose 20.2% to $ 20.81 billion after they had been damaged in the spring of last year with the impact of the Corona pandemic on trade with Turkey’s largest partner.

Imports rose 13% on an annual basis in October to reach $22.27 billion.