Turkey’s exports hit record high of $16.8B in May

According to the general trade system, Ruhsar Pekcan said the country’s exports last month jumped 11.46% year-on-year.

In the same month, Turkey’s imports amounted to $18.5 billion with an annual decline of 19.85%.

“Turkey’s foreign trade balance in […] used the special trade system and the general trade system.

Calculations based on the special trade system do not include free zones and customs warehouses.

The general trade system is a wider concept, including customs warehouses, all types of free zones, free circulation area and premises for inward processing.

At the end of every month, the Turkish Statistical Institute (TurkStat) releases the final foreign trade figures for the previous month, as the ministry of trade announces preliminary general trade system data in the first week of every […]