"Turkey Trade Gap Was Record $8.7 Billion in December
January 28, 2011, 4:03 AM EST
By Steve Bryant
(Updates with economist comment in fourth paragraph.)
Jan. 28 (Bloomberg) -- Turkey’s trade deficit widened to a record $8.7 billion in December as booming domestic demand helped imports of goods and raw materials grow twice as fast as exports.
Exports rose 18 percent to $11.9 billion and imports jumped 37 percent to $20.6 billion, the statistics office in Ankara said on its website today. The deficit was the biggest since the data series began in 1984 and exceeded the $8.2 billion median estimate of six analysts in a Bloomberg survey. In December 2009 the gap was $5 billion."
More:Turkey Trade Gap Was Record $8.7 Billion in December - Businessweek