Turkey’s annual trade deficit almost halved in 2019, decreasing 43.54% to $31.13 billion according to the special trade system, data from the trade ministry showed on Friday.
Imports fell 9.12% to $212.7 billion in 2019, while exports rose by 2.18% to $171.58 billion according to the special trade system, the ministry’s data showed.
The data was released during Trade Minister Ruhsar Pekcan’s annual evaluation speech and showed that imports rose 14.77% to $19.02 billion in December, while exports also rose 6.39% to $14.7 billion according to the special trade system, Reuters reported.
Meanwhile, Turkish Finance Minister Berat Albayrak said on Friday that the government will stabilize inflation at single digits by strengthening production, after annual inflation rose slightly more than expected in December.
Earlier, official data showed inflation rose to 11.84% in December, ending the year around a government target and likely leaving the door open to a bit more monetary easing.
