Turkey: Trade deficit narrows 49.1 pct in November

ANKARA

Turkey's foreign trade deficit narrowed by 49.1 percent year-on-year in November, due to a continuing decline in imports, the Turkish Statistical Institute reported on Thursday.

The deficit narrowed to $4.2 billion in November from $8.3 billion for the same month in the previous year, the report said.

Exports were $11.7 billion in November, a 10.2 percent decrease from November 2014, and imports were $15.9 billion, a 25.3 percent decline year-on-year, the report said.

Turkey’s exports in the first 11 months of this year fell by 8.4 percent to $132 billion from $144.3 billion in the same period of last year, while imports saw a 14.1 percent decline in the same period to $189 billion from $220.4 billion