Turkish trade deficit up 63 percent in January
Turkey's trade deficit widened by 63 percent on a 12-month comparison to $1.8 billion in January, the state statistics institute announced Tuesday, April 3.
Imports increased by 23 percent to $3.97 billion from the figure 12 months ago, while exports rose by 2.2 percent to $2.17 billion, it said.
In 2000, Turkey's trade deficit was $26.7 billion, an 89.1-percent rise from the previous year.
Depreciation of the Turkish lira by no more than 30.0 percent following flotation of the currency in February, and weakness of the euro against the dollar, were major negative factors in 2000 for trade by Turkey, which sells about 50 percent of its exports to EU countries.
The depreciation of the lira, which has so far lost about a third of its value against the dollar, is expected to contribute to an increase in exports in 2001, while forcing up inflation and placing additional burdens on the budget. — (AFP, Ankara)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)