Economy of Pakistan

Turkey?s foreign trade deficit declined by 39.8 percent in August to $4.89 billion compared to the same month of 2014, according to data produced by the Turkish Statistics Institute (TÜ?K) in cooperation with the Customs and Trade Ministry on Sept. 30. 

Turkey?s current account deficit totaled $3.15 billion in July, below forecasts, data from the Central Bank revealed Sept. 10. 

The 12-month deficit was announced at $45.03 billion. 

The deficit increased by 32 percent in July year on year due to rising domestic demand and decreasing exports, despite the positive effects of the oil plunge on the current account deficit. 

Turkey?s foreign trade deficit widened by 6.5 percent to over $7 billion in July compared to the same month of last year, data from the Turkish Statistical Institute (TÜ?K) showed on Aug. 31.

Tourism, the most important sector that earns foreign currency for Turkey, is having an unpleasant season. This has both internal and external reasons. Some are optimistic; some are pessimistic. The sector has named this "the year of crisis." 

Despite the lower levels of economic growth than the targets, the country will meet its budgetary target of 2015, says Minister Mehmet ?im?ek. 

Gold sales to Switzerland have once again helped Turkey narrow its trade gap, this time dramatically to $4.96 billion in April from $7.3 billion for the same month the previous year, according to figures released by the Turkish Statistical Institute (TÜ?K) on May 29.      

The 31.9 percent decline followed an increase of 17.2 percent in March.

Turkey?s central government has run a 4.1 billion Turkish Lira ($1.6 billion) deficit for the first four months of 2015, Turkey?s Finance Ministry said May 15.

Turkey?s current account deficit rose by $1.58 billion to $4.96 billion in March from the same month of last year, exceeding expectations, according to the balance of payments data released by the Central Bank on May 12.

Turkey?s foreign trade deficit soared to $6.15 billion in March 2015, up 17.2 percent from $5.25 billion in the same month last year, the Turkish Statistical Institute (TÜ?K) revealed on April 30.

The surge in the foreign trade deficit followed a two-month decline in the first two months of the year.

Turkey?s current account gap stood wider than expected at $3.2 billion in February, the Turkish Central Bank said on April 10.