Turkey, exports +10.9%, imports -2.7% in 4 months Trade with European Union down

On the back of a 2.2% increase in trade in April 2011, Turkey's exports increased by 10.9% between January and April 2012, while imports fell by 2.7%. Over the period examined, the negative balance fell from 33.7 to 26.9 billion dollars, confirming the efficiency of government measures aimed at reducing imports and the trade deficit. Another significant variation, according to figures released by Turkey's statistics institute TUIK, is the fall in trade with the European Union, which is down from 50.5 to 47.3 billion dollars. This figure can also be read as the result of measures being carried out by the government to diversify markets to reduce dependence on the EU market, the country's main trade partner. The EU share of total Turkish trade in the first four months of last year stood at 42%, with a total of 50.5 billion, while the figure today stands at 38.5% (47.3 billion in value). The total, which remains favourable to the EU, has fallen by 7.3% (8.6 billion in April 2011 against 7.9% in April 2012). In the list of Turkey's commercial partners, Germany is in first place with trade of 10.9 billion and a trade deficit for Turkey of 1.9 billion, ahead of Russia (10.1 billion euros and a trade deficit for Turkey of 6 billion); Iran in third (almost 7.8 billion euros and a trade deficit for Turkey of 2.5 billion); China in fourth position (7.4 billion euros and a trade deficit for Turkey of 5.8 billion) and the United States (6.7 billion euros and a trade deficit for Turkey of 2.9 billion). Italy is in sixth place, with trade worth 6.3 billion dollars and a trade deficit for Turkey of 2 billion.