Turkey posted a trade deficit of $5.75 billion in October, a further narrowing that suggests the economy’s rebalancing remains on track. The decline in imports was the slowest over the past six months, reflecting the relative strength of the Turkish lira.
Exports last month rose 3.6% from a year earlier to $23.6 billion while imports dropped 0.2% to $29.4 billion, data published Saturday by the Trade Ministry showed. The figures took the 10-month trade shortfall to $65.6 billion, down more than 30% from the same period a year earlier. Ten-month exports were $216.4 billion, compared with the government’s full-year estimate of $264 billion.
