Turkey's exports dropped 5.7% in August year-on-year to reach $12.5 billion, the country's statistical authority announced on Wednesday.
Turkey’s imports, on the other hand, rose 20.4% to stand at $18.7 billion in the month, versus the same month last year, the Turkish Statistical Institute (TurkStat) said.
The foreign trade deficit was $6.3 billion in August, up 168.2% year-on-year, it said.
In August, the export-to-import coverage ratio was 66.5%, while it was 85% the same month last year.
The share of manufacturing industries products in total exports was 94.9%, while agriculture, forestry and fishing’s share was 2.8%, and mining and quarrying was 1.8%.
The share of high technology products in manufacturing industries exports was 3.2%.
Turkey's main partner for exports was Germany with $1.2 billion dollars in the month.
It is followed by the UK with $989 million, the US with $740 million, Iraq with $640 million.
Meanwhile, China was the top country for Turkey's imports with $1.9 billion, followed by Germany with $1.7 billion, Iraq with $1.7 billion, Russia with 1.3 billion, and Switzerland with $1.1 billion.
The share of the first five countries in total imports was 41.6%.
Exports and imports dropped 12.9% and 1.2%, respectively, in the January-August period.
In the first eight months of 2020, exports totaled $102.3 billion with a 12.9% fall and imports reached $135.3 billion with a 1.2% drop year-on-year.
The foreign trade deficit rose by 69.9% to $33.4 billion compared to the same period last year.
"In the same period, export-to-import coverage ratio was 75.6% while it was 85.8% in January-August 2019," it noted.
See all the news
Novartis Prostate Cancer Drug Receives U.S. FDA Breakthrough Designation
The Success of 5 Georgian Wines at Sommeliers Choice Awards 2021
სილამაზის ინდუსტრიის გამოწვევები და #AVON-ის ფინანსური მაჩვენებლები
Who Is Vazil Hudak?
PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI
Czech Development Agency Delegation to Visit Georgia
We paid for 100% of shares of Caucasus Online in 2019 - NEQSOL Holding
Top-10 Major Commodity Groups by Exports – what does Georgia sell abroad?
Carrefour Surpassed by Nikora in 2020
The former president of Frontera is accused by the founder of the company of stealing oil
The lawsuit between the former president of Frontera and the founder of the company
#ADB-ის პერსპექტივა - #ინტერვიუ შეინ როზენტალთან
Q&A: TBC Group
ბიზნესს ახალი გარემოსდაცვითი პასუხისმგებლობა დაეკისრება
საქმის კურსი - 28.01.2021 - კოლაჟი
#ამერიკისხმა - #Apple-ის 45 წლიანი ისტორია
Regional Statistics of COVID-19
საქმის კურსი - 28.01.2021_17:40 - გადაცემა სრულად
მთის კურორტებზე არსებული ბიზნესი ხელისუფლებას შეხვდა - გეგა სალუქვაძე საქმის კურსში
შესაძლოა, ბაზრობები 15 თებერვლამდე გაიხსნას