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Turkey Trade Deficit Widens In March

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Turkey’s trade deficit widened in March from the previous year, as imports rose faster than exports, the Turkish Statistical Institute said on Friday.

The trade deficit rose to $8.169 billion in March from $4.666 billion in the last year. In January, trade deficit was $8.0 billion.

Exports increased 19.8 percent annually in March and imports grew 30.7 percent.

Excluding energy products and non-monetary gold, the foreign trade deficit was $136 million in March.

On a seasonally adjusted basis, exports rose 1.2 percent monthly in March and imports declined 0.9 percent.

On a calendar adjusted basis, exports and imports grew 20.1 percent and 31.2 percent, respectively.

During January to March, the trade deficit increased to $26.406 billion from the same period of 2021.

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