Turkey's merchandise trade deficit decreased from the previous year in May, data released by the Turkey Statistical Institute and the Ministry of Customs and Trade showed Friday.
The trade deficit decreased 15.5 percent from last year to $8.584 billion in May. Economists were looking for a deficit of $8 billion.
Export of goods increased 20.3 percent annually to $13.17 billion during the month. Sequentially, shipments decreased a seasonally and calendar adjusted 1.4 percent.
The value of imports advanced 3.1 percent year-on-year to $21.752 billion in May. Compared to April, arrivals increased 1.1 percent during the month.
In the January-May period, the trade balance was a deficit of $35.576 billion, down by 18.9 percent compared to the same period a year earlier. Exports advanced 12.7 percent year-on-year during the five-month period, while imports decreased 1.4 percent.
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