Economic news

Turkish Trade Deficit Jumps 38% to $14.2 bln in January

ISTANBUL, Feb 27 (Reuters) - Turkey's foreign trade deficit widened 38.4% year-on-year to $14.24 billion in January, official data showed on Monday, with imports surging 20.7% and exports up 10.3%.

The Turkish Statistical Institute said imports climbed to $33.61 billion in January, while exports rose to $19.37 billion.

Under an economic programme unveiled in 2021, Turkey aims to shift to a current account surplus through stronger exports and low interest rates, despite soaring inflation and a currency that has tumbled in recent years.

Reporting by Canan Sevgili and Berna Suleymanoglu; Writing by Daren Butler; Editing by Alexandra Hudson

Source: Reuters

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