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Turkish Trade Deficit Narrows In June

Turkey's trade gap narrowed in June as exports increased alongside a sharp dip in imports, the latest figures from the Turkish Statistical Institute showed Tuesday.

The trade deficit fell to $7.176 billion in June from $8.6 billion in May. Economists had forecast a decrease to $7.9 billion.

Exports jumped 16.9 percent annually to $13.3 billion during the month. However, this was weaker than 20.1 percent rise in the preceding month.

Imports decreased 5.4 percent year-on-year to $20.44 billion in June after a 3.1 percent rise in the previous month.

Calendar adjusted exports increased 16.9 percent and imports decreased 1.5 percent compared with June 2011. Seasonally and calendar adjusted exports increased 2.9 percent while imports decreased 0.1 percent compared with previous month.

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