Turkey: Foreign trade gap narrows 76.5% in May

Turkey's foreign trade deficit decreased significantly in May, according to the Turkish Statistical Institute (TurkStat) on Friday. The figure fell 76.5% year-on-year to hit $1.84 billion last month, TurkStat said in a statement. Turkey's exports went up 12.1% on a yearly basis to nearly $16 billion in May, while imports saw an annual decline of 19.3% to hit $17.8 billion. The exports-to-imports coverage ratio rose to 89.7% last month, up from 64.6% in May 2018.