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Turkey November Trade Gap Narrows Sharply

Turkey's merchandise trade deficit for November narrowed significantly from the same month last year, as exports grew, while imports plummeted, data from the Turkish Statistical Institute showed on Monday.

The visible trade deficit for November fell to US$651 million from US$6.359 billion in the same month last year, representing a 89.8 percent decline.

Exports rose 9.4 percent year-on-year, while imports plunged 21.3 percent.

On a seasonally and calendar adjusted basis, exports and imports increased by 0.8 percent and 0.6 percent, respectively, from the previous month.

Calendar adjusted exports increased by 9.4 percent year-on-year, while imports decreased by 21.2 percent from a year ago.

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