Turkey posts highest February exports figure

By Tuba Sahin

ANKARA (AA) - Turkey recorded its highest February exports figure, Trade Minister Ruhsar Pekcan said on Monday.

Turkish exports based on the special trade system rose 3.5 percent year-on-year to reach $13.6 billion in February, Pekcan told at a news conference in capital Ankara.

Formed on general trade system, Turkey's exports last month amounted to $14.3 billion, increasing 3.7 percent on an annual basis, she said.

The country's imports last month based on the general trade system fell 18.7 percent to hit some $16.2 billion, she added.

"Thus, our exports in the first two months of this year rose 5 percent while imports slipped $23.1 billion [on a yearly basis]," Pekcan said.

Calling the significant increase in exports-to-imports coverage ratio as the most important indicator of 2019, Pekcan said: "The exports-to-imports coverage ratio based on general trade system advanced to 88.6 percent in February, up from 69.4 percent in the same month last year."

The ratio formed on special trade system also increased from 69.4 percent to 86.1 percent last month, according to the ministry.

The ministry formerly announced figures based on the special trade system.

The general trade system is a wider concept, including customs warehouses, all types of free zones, free circulation area and premises for inward processing.