Turkey’s Trade Deficit Rises 20.7% Y-o-Y in May

The Turkish trade deficit in May increased by 20.74% on an annual basis, to $4.15 billion, according to the General Trade System.

Data from the Commerce Ministry showed that exports rose 65.5% to $16.48 billion, compared to the same month last year when Ankara began easing restrictions on trade to combat the pandemic.

Imports rose 54% to $20.63 billion. The data also showed that the trade deficit in the first 5 months of the year decreased by 13.1% to $18.28 billion.