Trade
Turkey’s Trade Deficit Narrows as Imports Fall on Weak Demand
- Central bank continues to raise interest rates aggressively
- Exports have shown resilience despite weak European economy
The ort of Izmirin Izmir, Turkey.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
Turkey’s trade deficit narrowed yet again in November, propelled by a drop in imports and a rise in exports for the fifth consecutive month.
The trend signals subdued economic activity influenced by restrained domestic demand as the Turkish central bank continues to raise interest rates aggressively.