Economy Turkish trade deficit surges 162% to $11.3bn in August By Reuters September 4, 2022, 7:39 AM Reuters/Alexander Manzyuk Turkey's exports rose 13.2 percent to $21.341 billion , while imports jumped 40.8 percent to $32.618 billion in August. Turkey’s trade deficit jumped 161.8 percent year-on-year in August 2022 to $11.277 billion, the Trade Ministry said on Friday, as surging energy import costs continue to widen the shortfall. Turkey’s exports rose 13.2 percent to $21.341 billion in August, while imports jumped 40.8 percent to $32.618 billion, the data showed. In a speech, Trade Minister Mehmet Mus said energy imports constituted some 27 percent of the total imports last month. 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. High global energy and commodity prices have made that target more difficult to attain.
