Turkish Foreign trade deficit reach 7.3 bln USD

ANKARA (A.A) - 28.02.2011 - Turkey's exports rose 22.1 percent to $9.56 billion year-on-year, country's statistical authority, Turkstat, said on Monday. 
According to Turkstat's foreign trade figures for January, Turkey's imports also increased 44.3 percent to $16.87 billion. 
Foreign trade deficit reached $7.31 billion with an increase of 89.4 percent. 
In January 2010, foreign trade deficit was $3.86 billion. 
Meanwhile, ratio of exports to imports dropped to 56.7 percent in January 2011 from 67 percent in January 2010. 
In the same period last year, Turkey's exports were $7.83 billion and its imports were $11.69 billion. 
TurkStat said that import of intermediate goods, which constitutes more than 70 percent of Turkey's total imports, recorded a 42.8 percent increase in January 2011 compared to January 2010, and reached $12.5 billion.
The authority said import of capital (investment) goods also increased by 45.1 percent in the same period and amounted to $2.26 billion.
Import of consumer goods increased by 47.5 percent, reaching $2.87 billion, TurkStat said.
The highest amount in imports was recorded with $3.7 billion in "mineral fuels and oils" category in January 2011.
As for exports, 91.9 percent of this January's $9.5 billion export figure comprised of products of the manufacturing industry. 
Exports in this product category, which was around $7.2 billion in January last year, rose up to $8.78 billion the same month this year, TurkStat said.
Germany ranked the first in Turkey's export list in January, as Russia topped the country's import list, the authority added.