Country’s exports down 41.38% y-o-y to $9B in April amid coronavirus, with imports also dropping 28.31% to $12.9B
Turkey’s foreign trade volume diminished 34.31% year-on-year to $21.9 billion in April, according to a preliminary Trade Ministry data released Monday.
The country’s exports volume was negatively impacted by coronavirus in the month, the ministry said in a statement.
The figure dropped %41.38% on a yearly basis to $9 billion in the month.
Imports also declined 28.31% to nearly $12.9 billion, amounting to a foreign trade deficit of $3.4 billion with a 45.11 rise.
The data also showed that the exports-to-imports coverage ratio in April was 69.4%, down from 84.9% in the same month last year.
The quarantine restrictions enacted at the borders as well as market and demand shrinkage in EU states were the main culprits of the decline in exports in April, the statement said.