Turkey’s trade gap with the rest of the world declined by 32.4 percent in August as growth in exports outpaced an increase in imports.
The deficit narrowed to $4.26 billion last month, the Turkish Statistical Institute said on Thursday.
Exports surged by an annual 51.9 percent to $18.9 billion. Imports expanded by 23.6 percent to $23.2 billion.
Turkey’s government is looking to exporters to drive economic growth this year. Sales abroad have been helped by the weakening lira – the currency hit a record low of 8.96 per dollar on Wednesday, taking losses this year to 16 percent.
The trade deficit for the first eight months of the year declined by 9.8 percent to $29.8 billion, the institute said. The gap was a major contributor to a current account deficit of 5 percent of GDP last year.