Turkey's foreign trade gap at $4.1B in May

Turkey’s foreign trade deficit stood at $4.1 billion in May, the country’s statistical authority said on Wednesday.

The gap expanded 20.2% from the corresponding month last year, TurkStat said in a statement.

Turkey’s exports surged 65.7% year-on-year to hit $16.5 billion in May, while imports went up 54% to reach $20.6 billion.

The exports-to-imports coverage ratio increased to 80% last month, versus 74.3% in May 2020.