Turkey’s June 2022 exports up 19% to US$23.4bn

Turkish exports jumped 20 percent on an annual basis in the first half of the year, official data showed Friday. 

The January-June figure hit $125.9 billion, the Turkish Statistical Institute (TurkStat) said in a statement Saturday.

The imports totaled $177 billion, an increase of 40.6 percent on an annual basis. 

As imports rose at a faster pace than exports, the country’s foreign trade deficit widened 142.7 percent to hit $51.4 billion during the same period. 

The export-to-import coverage ratio fell to 71 percent in the first half, versus 83.2 percent a year ago.

As for June specifically, exports were up 18.7 percent to $23.4 billion, while imports rose almost 40 percent to $31.6 billion.