Turkey’s foreign trade deficit increased by 6.9 percent year-on-year in November and soared to 5.402 billion U.S. dollars, the Turkish Statistical Institute announced Friday.
The export-import coverage ratio, which was 76.1 percent in November in 2020, grew to 79.9 percent in the same month this year, the Turkish institute said in a report. According to the provisional foreign trade data, the country’s exports increased by 33.7 percent in November and reached 21.506 billion dollars, while imports increased by 27.3 percent and amounted to 26.908 billion dollars.
During the period between January and November, Turkey achieved 203.9 billion dollars’ worth of exports. Turkish authorities earlier announced that Turkey targets an earning of 242 billion dollars in export in 2023. Addressing businesspeople in Istanbul, financial hub of Turkey. —APP
