Turkey's high trade deficit

Istanbul-Sana

Turkey's trade deficit jumped 298 percent year-on-year last month to $10.384 billion, as rising energy import costs continue to cause the deficit to grow.

Reuters reported that data issued by the Turkish regime's Ministry of Trade showed that imports rose by 41.5 percent to $33 billion, and exports rose by 9.2 percent to $22.26 billion last month.

According to the Turkish Minister of Trade, Mehmet Muş, energy imports accounted for about a third of the total imports in the first nine months of this year.

It is noteworthy that inflation in Turkey jumped during the past month also to its highest level in 24 years, by 83.45 percent against the background of the weak currency and the decisions of the President of the Turkish regime, Recep Tayyip Erdogan, regarding interest rates.

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