Turkish exports decreased 4% year-on-year in January-March period to $42.7 billion while imports increased by 10.3% to stand at $55.6 billion, the country’s statistical authority announced on Thursday.

TurkStat said the foreign trade deficit increased by 117.3% in the first three months of the year.

“In January-March 2020 period, foreign trade deficit was $12.9 billion with a 117.3% increase compared to same period last year,” it noted.

In the same period, exports coverage imports was 76.8%, while it was 88.2% in January-March 2019.

In March, exports were $13.4 billion with a 17.8% decrease and imports were $18.8 with a 3.1% increase compared with the same month last year. 

Turkish exports totaled $167.92 billion and imports were $171.53 billion in 2019.

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