Turkey Trade Deficit Widens In May

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Turkey’s trade deficit widened in May amid solid declines in both exports and imports, data from the Turkish Statistical Institute showed on Tuesday.

The trade deficit increased to $3.42 billion in May from $1.69 billion in the same month last year. In April, the trade deficit was $4.6 billion.

Exports declined 40.9 percent annually in May and imports decreased 27.8 percent.

On a seasonally and calendar adjusted basis, exports increased 23.9 percent in May and imports rose by 9.6 percent from the previous month.

Calendar adjusted exports decreased 31.2 percent and imports declined by 16.7 percent from a year ago.

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