Turkey's trade deficit shrank by 60.9 percent to $7.48 billion dollars (8.5 billion euros) in the first nine months of 2001 compared to the same period last year, the state statistics institute announced on Tuesday, November 27.
Imports fell by 23.3 percent to $30.45 billion, while exports rose by 11.8 percent to $22.97 billion, the institute said. In September alone, imports fell by 28.7 percent to $3.31 billion compared to September 2000, while exports rose by 6.7 percent to $2.57 billion. In 2000, the Turkish trade deficit widened by 89.1 percent to reach $26.7 billion dollars.
Turkey hopes to reduce its trade deficit with increased exports, driven by the collapse of the Turkish lira, which has lost more than 50 percent since a February financial turmoil dragged the economy into one of its worst ever crises. —(AFP, Ankara)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com )