Lowest Turkish Exports Since 2011 Hidden by Shrinking Trade Gap
- Exports fall to $9.6 billion in January; lira strengthens
- Decline led by falling shipments to neighboring Russia, Iraq
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Turkey’s exports fell to a five-year low as shipments to neighboring countries that are beset by fighting and economic crisis plunged.
Exports dropped to $9.6 billion in January, with sales to Russia and Iraq plummeting, Turkey’s state statistics institute in Ankara said on its website Monday. Turkey’s trade gap shrank to $3.76 billion from $4.34 billion during the same period, due to the lower cost of importing energy.