(RTTNews) – Turkey’s foreign trade gap widened in May from a year ago, as imports grew faster than exports, figures published by the Turkish Statistical Institute showed Friday.
The trade deficit rose to $7.3 billion in May from $5.1 billion in the corresponding month last year. Economists had expected a shortfall of $7.68 billion for the month.
Exports climbed 12.5 percent year-over-year in May and imports surged by 21.7 percent.
On a monthly basis, exports dropped a seasonally and calendar-adjusted 0.2 percent in May, while imports grew by 9.0 percent.