"Trade balance in Turkey in Feb registered USD 7.4bn deficit
Erste - 04.04.2011
Trade balance in February registered USD 7.4bn deficit, higher than our expectation of around TRY 6.4bn and market consensus of USD 7.2bn. Exports were up by 22.2% over last year reaching USD 10.1bn in line with our expectations, while deviation of our expectation from actual outcome mainly stemmed from the import growth. Imports grew by 48.7% compared to last year, on the back of 56.1% rising energy and 46.8% rising non-energy imports."
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