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ANKARA
The Turkish Ministry of Commerce announced Monday the results of the survey on foreign trade forecast for the third quarter of this year.
"The survey of foreign trade prospects reflects the Turkish foreign trade badessments according to the recent and current situation, as well as the future expectations of large companies," said the ministry in a statement.
He noted that the survey produced indices that could be qualified as leading indicators.
The ministry said the export expectations index jumped 5.3 points year-on-year to reach 123.3 points for the July-September period this year, compared with 118 points for the same period from last year.
The import expectancy index, however, fell by 15 points to 98.1 for the third quarter of this year, against 113.1 points a year earlier.
Both indices with a value greater than 100 points indicate an upward expectation, while the value below 100 points indicates a downward outlook for future periods.
On a quarterly basis, the export expectancy index decreased by 2.6 percentage points to 125.9 points between April and June this year, with the import outlook index increasing slightly from 97.6 points in the second quarter of this year.
According to the latest figures from the country's statistical authority, the foreign trade deficit registered an annual fall of 76.5% in May, to stand at 1.84 billion dollars, compared to 7.81% billion a year ago.
In May, Turkey's five-month exports totaled about $ 72.7 billion and imports $ 84.3 billion.
In 2018, Turkey's exports reached an unprecedented peak of $ 167.9 billion, up from nearly $ 157 billion the year before.
Over the past decade, the annual ratio of exports to imports was the highest of last year with 75.3%, while Turkey's trade deficit rose from some $ 106 billion in 2011 to 55 billion dollars in 2018.
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