Economy Turkish trade deficit jumps 147% to $10.7bn in July By Reuters August 30, 2022 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.
