Turkey has reduced the export in January by 14.4% due to Russian sanctions


Moscow. February 1. Exports from Turkey declined in January by 14.4%, to $9,208 billion, according to preliminary data of the Association of exporters of Turkey.

According to the newspaper Hurriyet, the decrease was mainly due to the sanctions imposed by Russia. In addition, in January of this year had one working day less than last year, which led to the decline in exports of $386 million.

The main export destinations of Turkey last month were Germany (-1.5%), the UK (-15,9%), Italy (-2%), USA (-6,6%) and Iraq (-47,9%).

Meanwhile for the 12 months ended in January, Turkish exports decreased by 9.8%, to $140,6 billion.

By the end of 2015 Turkey recorded the lowest trade deficit since 2009 amid falling oil prices, according to data of statistics Department of Turkstat. The negative balance decreased by more than a quarter, to $63.3 billion, the cost of purchase of energy abroad fell from $54.9 billion to $37.8 billion.

Exports in 2015 decreased by 8.7%, to $143,9 billion, the leaders of the fall was the delivery to Iran, Iraq and Russia. Imports fell by 14.4% to $207,2 billion.