Turkey's foreign trade gap narrows over 63 pct in Feb.

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Turkey's foreign trade deficit shrank 63.1 percent year-on-year to reach some $2.1 billion in February, according to the country's statistical institute on Friday.

Turkish exports rose 3.4 percent on a yearly basis to reach nearly $13.6 billion last month, TurkStat data showed.

The country's imports in February reached $15.7 billion, falling 16.9 percent compared to the same month last year.

The report showed that the exports-to-imports coverage ratio surged 86.4 percent last month from 69.4 percent in February 2018.

The EU-28 countries remained as the top trading partner of Turkey with a trading volume of $12 billion in February.

The country's exports to the EU-28 rose 1.7 percent year-on-year to hit nearly $7 billion last month. The proportion of the EU in Turkey's exports stood at 51.1 percent in February

Asian countries with a share of 24.8 percent or some $3.4 billion worth of exports became the second largest market for Turkish exports.

Turkey's top export market Germany received some $1.23 billion worth of Turkish exports. This was followed by Germany with $857 million, Italy with $815 million, and Spain with $741 million.

Imports mostly came from Russia ($1.6 billion), followed by China ($1.4 billion) and Germany ($1.3 billion).

Manufacturing industry products dominated the total exports with a 94.2-percent share, followed by agriculture and forestry exports (3.4 percent) and mining and quarrying exports (1.7 percent).

The ratio of high technology products in manufacturing industry exports was 3.4 percent in the same period while the exports shares of medium-high and low technology products were 36.3 and 32.7 percent, respectively.

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