Turkey's foreign trade gap shrinks in 2018

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Turkey's foreign trade gap shrinks in 2018

ANKARA 

Turkey's foreign trade gap in 2018 narrowed 28.4 percent year-on-year, the country's statistical authority announced on Thursday.

The figure reached $55 billion last year, down from a $76.8 billion-deficit in 2017, according to TurkStat.

Turkish exports rose 7 percent on a yearly basis to hit $168 billion, as imports dropped to $223 billion, indicating a decrease of 4.6 percent.

The exports-to-imports coverage ratio advanced to 75.3 percent last year, up from 67.1 percent in 2017.