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Turkey Trade Deficit Narrows In March

4/30/2012 3:13 AM ET

Turkey's merchandise trade deficit decreased from last year in March, data released by the Turkish Statistical Institute showed Monday.

The trade deficit declined to $7.35 billion in March from $9.83 billion in the same month last year.

Export of goods increased 12.2 percent on an annual basis to $13.25 billion in March. Shipments to the European Union (EU) states decreased 3.3 percent annually during the month.

The value of imports, meanwhile, decreased 4.8 percent year-on-year to $20.60 billion during the month.

The main partner country for exports was Germany, followed by Iraq, Iran, the United Kingdom and Italy. The top country for Turkey's imports was Russia in March, followed by Germany and China, the agency said.

by RTT Staff Writer

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