Turkey's exports hit $169.5B in 2020

By Gokhan Ergocun

ISTANBUL (AA) – Turkey's exports slipped 6.3% on an annual basis to stand at $169.48 billion in 2020, a year when the coronavirus pandemic ravaged several economies around the world, particularly in the country's main export destination, the EU.

Turkey’s imports last year went up 4.3% to $219.4 billion, bringing the foreign trade deficit to $49.9 billion – an increase of 69.1%, the country's statistical authority, TurkStat, announced on Friday.

The export-import coverage ratio was 77.2% in 2020, down from 86% in the previous year.

In December, Turkey’s exports saw a 16% rise to reach $17.85 billion, while imports were up 11.6% at $22.38 billion.

The deficit in the last month was $4.53 billion, a 3% yearly increase.