Turkey's foreign trade deficit narrows in November

ANKARA

Turkey’s foreign trade deficit narrowed by 52 percent in November year-on-year, according to a flash estimate from the Customs and Trade Ministry on Wednesday.

The foreign trade deficit narrowed to $4.04 billion from 8.4 billion in November from that month in 2014.

Exports in the month declined to $11.9 billion, down 7.7 percent year-on-year, while imports show a much more steep decline to $16 billion, slipping 25.2 percent from a year earlier.

The rate of exports covering imports also saw a sharp improvement, rising from 60.6 percent to 74.7 percent compared with November last year.