Turkey Trade Gap Widens In February

(RTTNews) - Turkey's foreign trade deficit increased in February from a year ago as imports grew faster than exports, the Turkish Statistical Institute reported Tuesday.

The trade deficit increased to $9.0 billion in February from $7.8 billion in the same month last year. The shortfall totaled $8.3 billion in January.

The foreign trade deficit, excluding energy products and non-monetary gold, was $2.99 billion.

Exports rose 1.5 percent year-over-year in February, and imports were 5.5 percent higher. Turkey's main export partner country during February was Germany, followed by the UK, USA, and Italy. The country imported more from China, Germany, and Switzerland.

Separate official data showed that Turkey's unemployment rate rose to a 3-month high of 8.5 percent in February from 8.2 percent in January. The employment rate also increased to 48.2 percent from 48.0 percent.