UPDATE - Turkey's foreign trade gap at $2.23B in November

UPDATES WITH MORE DETAILS

By Tuba Sahin

ANKARA (AA) - Turkey's foreign trade deficit reached $2.23 billion in November, the country's statistical authority said on Tuesday.

The figure ballooned 232.2% on an annual basis last month, TurkStat said.

Turkish exports went up marginally 0.1% to $15.5 billion, while imports rose 9.7% to $17.7 billion in the same period.

The exports-to-imports coverage ratio fell to 87.4% in November 2019, while it was 95.8% in the same month last year.

Turkey's exports to its main trading partner Germany totaled $1.4 billion, down 2.3% year-on-year.

The other main recipients of Turkish goods were Iraq with $956 million, the U.K. with $915 million, and Italy with $837 million.

Russia was the top country for Turkey's imports with $2 billion, followed by China ($1.8 billion), Germany ($1.7 billion), and the U.S. ($802 million).

In January-November, the foreign trade gap narrowed 48.8% from the same period last year, reaching $26.8 billion.

The country's exports totaled $156.9 billion, up 1.8%, while imports amounted to $183.7 billion, falling 11% in the first 11 months of the year compared to last year.