Turkey’s foreign trade deficit narrowed more-than-expected in October, preliminary figures from the Turkish Statistical Institute showed Friday.
The trade deficit contracted to $6.25 billion in October from $7.42 billion in the same month last year. Economists had forecast the deficit to fall to $6.55 billion for the month.
Exports climbed 7.3 percent year-on-year in October, while imports fell 1.5 percent. Seasonally and calender-adjusted exports dropped by 0.9 percent, while imports rose by 0.8 percent, compared with the previous month.
In the January to October period, total trade deficit of the country narrowed to $67.6 billion from $82.68 billion in the same period last year.
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