Turkey's trade deficit decreases 4.1 percent in November, surge in exports supports

According to the provisional data released by Turkish Statistical Institute, TurkStat, Turkey's foreign trade deficit decreased by 4.1 percent in November.

Turkey's exports in November surged by 9.7 percent year-on-year, while imports advanced six percent, the Turkish Statistical Institute, TurkStat, said on Friday. The increase in exports left the country with a trade deficit of $4.1 billion for the month, down by 4.1 percent compared with November 2015, TurkStat said.

Exports to the EU increased by 6.6 percent in November to almost $6 billion. Exports to Germany stood at 1 billion 239 million dollars, followed by the United Kingdom (874 million dollars), UAE (833 million dollars) and Iraq (796 million dollars).

Turkey imported over $2.1-billion-worth of goods from China in September. Germany was the second-largest exporter to the country, with over $1.82 billion for the month and Russia came in third with over $1.3 billion due to gas imports.