03.Nov .2022 11:30

Turkiye's trade deficit rocketed to $8 billion in October

Turkiye's trade deficit rocketed to $8 billion in October
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Turkiye's exports rose 2.8% year-on-year to $21.3 billion in October, according to preliminary data released by the Trade Ministry.

The country's imports jumped 31.9% on an annual basis to $29.3 billion last month.

This October, the export-import coverage ratio decreased 20.5 percentage points from a year ago to 72.7%.

Turkiye's trade deficit nearly rocketed to $8 billion in October, up from $1.5 billion in the same month last year.

In January-October, Turkish exports soared by 15.4% from a year earlier to $209.5 billion, the preliminary reading showed.

Imports advanced 39.5% on an annual basis to $300.6 billion in the 10-month period, bringing the trade gap to $91.1 billion, which grew 168.5% in the same period.