The foreign trade shortfall, the Turkish economy’s soft spot, carried on ameliorating in May. The shortfall contracted by one hundred fifty-five percent last month year-on-year to $eighty-five billion, the Turkish Statistical Institute’s data show.
The optimistic movement in Turkey’s constricting foreign trade shortfall, which contracted 27.4 percent in April, continued in May, in accordance with Turkish Statistical Institute (TUİK) data revealed on June 29. The shortfall contracted by 15.4 percent in May.
Turkish exportations were up by 20.4 percent to $13.2 billion in May 2012, when compared to the same month of 2011. Importations arose by 3.2 percent to $21.8 billion. The foreign trade shortfall reduced 15.4 percent to $8.4 billion on an yearly basis in May.
Calendar-adjusted exportations raised by 16.3 percent and importations reduced by 1 percent when compared with May 2011. Seasonal and calendar-adjusted exportations reduced by 1.3 percent, although importations raised by 1.2 percent when compared with the previous month.
The improvement in trade figures was reflected in the balance of exportations and importations. In May 2012 exportations comprised 60.4 percent of total activity, while the figure was 51.7 percent in May 2011.
In the first 5 months of the year exportations recorded 12.8 percent rise, while importations reduced by 1.3 percent when compared with same period last year.
