RTTNews - Turkey's trade deficit narrowed to US$3.5 billion in May from US$6.8 billion in the previous year, the Turkish Statistical Office said Tuesday. Economists expected the deficit to be US$3.4 billion.
Total exports dropped 41% annually to US$7.35 billion, while total imports fell 43.9% to US$10.84 billion.
During the first five months of the year, the trade deficit decreased to US$10.4 billion from US$29.4 billion last year. Exports declined 30.8%, while imports were down 42.3%.
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