Turkey's trade deficit widens in January

ANKARA - Turkey's trade deficit widened to 2.3 billion dollars in January from 1.6 billion dollars in the month last year, the state statistics institute said Monday.
Imports climbed by 10.6 percent to 6.9 billon dollars, while exports increased by 0.3 percent to 4.6 billion dollars, it said.
The embattled Turkish lira has steadily regained value in the past two years as the economy has begun to recover from a severe crisis that erupted in 2001.
The government, buoyed by improving macroeconomic indicators under an IMF-backed austerity programme, wiped off six zeroes from the currency on January 1 in a major money reform.
But business circles have complained that the currency's revival is undermining exports, seen as vital for economic recovery.

02/28/2005 15:40 GMT