The foreign trade deficit with the European Union is closed!

The foreign trade deficit with the European Union is closed!
09 May 2019

In the first three months of 2019, the USD 1.3 billion foreign trade deficit between Turkey and the European Union  were closed. Turkey, the fifth largest trade partner in Europe, gave $ 5.2 billion of foreign trade surplus as a result of a 29% drop in imports from EU countries.

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ISTANBUL (TR) - Turkey Statistical Institute (TSI), according to Turkeyol B2B trade platform for examining the data, the first three months of 2019, Turkey's European Union (EU), $ 1.3 billion trade deficit between the countries were closed. Imports from EU countries decreased by 29% to $ 16 billion, while exports fell by 0.2% to $ 21 billion. Foreign trade surplus of $ 5.2 billion was given in the trade with EU countries with the large decline in imports. Yusuf Yenitürkoğulları, the founder of Turkeyol, stated that one of the biggest foreign trade surpluses in the history of trade with EU countries was given in the first three months of 2019. ini Decrease in imports and export surpluses lead to a decrease in foreign dependency. In the first quarter, exports of more than $ 2.4 billion were granted in Europe as well as in Africa. In particular, the harsh movements in foreign exchange rates directly affect imports, Özellikle he said.

The biggest decline in imports occurred in the UK.

Turkey's fifth largest trading partner in Europe in Germany, Italy, France, there was a big drop in imports from Spain and the UK. In the first three months of 2019, imports from Germany decreased by 22%, in Italy by 31%, in France by 36%, in Spain by 38% and in England by 48%. Imports from Denmark, Sweden and Malta have increased only from 28 EU member states. In Turkey, join producers to export email export process and is aimed at the development of relations with the region.

Automotive imports from EU countries decreased by 50%

In the first three months of 2019, the largest decline in the products imported from the EU countries took place in the automotive industry. Automotive imports decreased by 50%, imports decreased by 35% in iron and steel, 30% in machinery, 27% in plastics and 24% in electronics. Yusuf Yenitürkoğulları stated that imports from EU countries decreased by 6 billion dollars compared to the same period of the previous year. Ul Fluctuation and economic problems in the exchange pushed our producers to find new alternatives in the products they will receive from abroad. Using cross-border trading platforms, our manufacturers can supply the products they need at affordable prices and conditions. Ür

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