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Turkey’s foreign trade deficit plunges 93% in October amid record exports

Turkey’s foreign trade deficit saw an annual fall of 92.81 percent in October, year-on-year, Trade Minister Ruhsar Pekcan said.

According to Pekcan, last month the country’s exports amounted to $15.73 billion with a 13.1 percent annual hike year-on-year.

The October number was the highest monthly figure in the Turkey’s history since founding of the Republic.

Meanwhile, imports reached $16.26 billion, falling 23.5 percent compared to the same month last year.

Exports coverage ratio to imports was 96.7 percent, the minister said.

Exports in the last 12 months were up 7.9 percent, reaching $166.8 billion, while imports rose 3.8 percent to $234 billion.

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