US-dollar may climb in Turkey in medium and long-term perspectives

Baku. 29 September. REPORT.AZ/ Negative balance in Turkey's foreign trade balance increased by 22.8% year-on-year in August and reached $ 5.873 bln. 

Report informs, Turkish Statistical Institute and Ministry of Customs and Trade informed.

It was reported that in August exports increased by 12.3% year-on-year to 13,289 bln. while imports increased by 15.3% up to $ 19.162 bln.

The negative balance of foreign trade balance in January-August climbed by 21.1% up to $ 45.66 bln.

As a result, the ratio of export prices to import prices declined to 69.3%. Notably, in the same period last year, this ratio was 71.2%.

Analytical Group of Report News Agency informs, sharp increase in foreign trade balance will lead to increase of US-dollar exchange rate in Turkey in medium and long term perspectives. This may hinder the fall of the US-dollar in Azerbaijan. So, Turkey is one of the main trade partners of Azerbaijan.