Economy Turkish trade deficit jumps 147% to $10.7bn in July By Reuters August 30, 2022, 5:37 AM Creative Commons Turkey aims to shift to a current account surplus through stronger exports and low interest rates under a new economic programme. Turkey’s foreign trade deficit surged 147 percent year-on-year to $10.69 billion in July, with imports surging 41.4 percent, data from the Turkish Statistical Institute showed on Monday. Imports stood at $29.24 billion, while exports rose 13.4 percent to $18.55 billion, the data showed. Under an economic programme unveiled last year, Turkey aims to shift to a current account surplus through stronger exports and low interest rates, despite soaring inflation and a tumbling currency. Soaring global energy and commodity prices have made that target more difficult to attain. The deficit in the first seven months of the year climbed 143.7 percent to $62.18 billion, the data showed. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
