ANKARA: Turkey’s foreign trade deficit decreased in March from a year ago, as exports grew faster than imports, figures published by the Turkish Statistical Institute showed Friday. The trade deficit dropped to $4.49 billion in March from $5.01 billion in the corresponding month last year. That was in line with consensus estimate.
Exports surged 13.6 percent year-over-year in March and imports climbed by 6.9 percent. On a monthly basis, both exports and imports rose by a seasonally and calendar adjusted 3.7 percent and 2.2 percent, respectively in March. During the first three months of the year, total trade deficit of the country was $12.53 billion versus $12.13 billion in the corresponding period last year.