Turkey's exports up 5.6% year-on-year to $17.33B in October

Turkey's exports rose by 5.6% to reach $17.33 billion (TL 134 billion) in October, on a yearly basis, the country's statistical authority announced Monday (November 30), DS reported.

The country's imports also posted an increase of 8.4% to reach $19.7 billion in the same month compared with the same month last year.

Meanwhile, the foreign trade deficit was at $2.37 billion, up 34.4% annually, the Turkish Statistical Institute (TurkStat) data showed.

The export-import coverage ratio was 88% in October 2020, down from 90.3% in the same month in 2019.

The country’s exports were $135.6 billion, down 9.1% year-on-year in the first 10 months, while imports totaled $175.9 billion, increasing 2.2%.

The trade balance posted a $40.72 billion deficit in the January-October period, up 76.2% on a yearly basis.

The export-import coverage ratio was 77.1% over the 10 months, down from 86.7% in the same period last year.

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