[Economics] Ministry: Turkish trade deficit rises 76.7% in March

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https://www.msn.com/ar-ae/money/news/وزارة-العجز-التجاري-التركي-يرتفع-76-7-في-مارس/ar-AAVPnFt?li=BB1ebCer

 

 

 

ISTANBUL (Reuters) - Turkey's trade deficit rose 76.7 percent year-on-year in March to $8.24 billion, mainly due to a 156 percent rise in energy import costs, the Turkish Trade Ministry said on Monday.

 

The data also showed that Turkey's exports rose 19.8 percent to $22.71 billion in March, while imports rose 31 percent to $30.95 billion.

 

Commerce Minister Mehmet Muş said a $16.3 billion increase in energy imports - equivalent to an annual increase of 188 percent - in the first three months of the year led to an increase in total imports.

 

Russia's invasion of Ukraine has sent commodity prices soaring, threatening to derail Ankara's new economic program aimed at achieving a current account surplus.