Turkey’s exports rise by 24.8%

Turkey’s exports rose by 24.8 percent to $13.8 billion, while its imports increased by 12.5 percent to $20.9 billion, in November compared to the same month of the previous year. The Turkish Statistics Institute (TurkStat) released data regarding Turkey’s foreign trade for November 2012 on Friday, showing that the country’s foreign trade deficit dropped by 5.5 percent to $7.1 billion for November. The data also revealed that the export/import coverage ratio was 65.9 percent, while it was 59.4 in the previous November. Calendar-adjusted exports increased 13.1 percent and imports decreased 0.3 percent compared with November 2011. On a seasonally and calendar-adjusted basis, exports decreased 2.5 percent month-on-month in November. Imports, meanwhile, increased 0.7 percent.