Turkey: Exports in May reached USD 10 billion

Turkey: Exports in May reached USD 10 billion

Turkey’s exports were almost USD 10 billion in May, according to the Turkish Statistical Institute, which saw a 41% drop amidst the coronavirus pandemic, compared to the same month last year.

Turkish imports also fell by 28% to USD 13.4 billion over the same period, according to the Turkish Statistical Institute on Tuesday.

As exports fell more sharply from imports, the foreign trade deficit rose 102.7% year-on-year to USD 3.4 billion in May.

In May, the export-import coverage ratio was 74.5% compared to 90.9% in May 2019./ibna