Turkey's exports soar by 33.7% to $21.5B in November

By Gokhan Ergocun

ISTANBUL (AA) – Turkey's exports and imports saw an annual rise of 33.7% and 27.3% to reach $21.5 billion and $26.9 billion, respectively, according to official figures released on Friday.

The country’s foreign trade deficit rose by 6.9% on an annual basis to some $5.4 billion in November, the Turkish Statistical Institute (TurkStat) reported.

The export-import coverage ratio was 79.8% in November.

Excluding the energy and gold trade, Turkey’s exports and imports were $19.9 billion and $20.2 billion, respectively.

Foreign trade deficit-- excluding energy products and non-monetary gold -- was $315 million in November, TurkStat said.

- 11-month figures

In the January-November period, Turkey’s exports grew 33.8% on a yearly basis to hit $203.1 billion, while imports were up by 23% to $242.44 billion.

The trade balance during the 11-month period saw a deficit of $39.35 billion, a 13.2% decrease versus the same period 2020.

"Exports coverage imports was 83.8% while it was 77.0% in January-November 2020," it added.