Turkey’s foreign trade deficit dropped 62.3 percent, from $1.8 billion to $691 million as of January 2002, reported the State Institute for Statistics (DIE). Turkey exported $2.4 billion worth of goods in January 2002 and imported $3.1 billion worth of merchandise during the same period.
The country hopes to reduce its trade deficit by increasing its export levels, a decision provoked by the collapse of the Turkish lira, which has lost more than 50 percent of its value since February 2001’s financial turmoil dragging the economy into one of its worst ever crises. — (menareport.com)
© 2002 Mena Report (www.menareport.com )