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TURKEY: Trade Deficit Widens Slightly More Than Anticipated in October

TURKEY
BulletEM BulletEmerging Market News
  • Turkey’s trade deficit widened to $5.909bn in October (Est: -$5.70bn) from a revised deficit of $5.143bn in September. Exports rose 3.1% y/y while imports were unchanged on a year-on-year basis.
  • Meanwhile, Turkey's economic confidence fell to 97.100 in November from 97.991 the month prior, data from the Turkish Statistical Institute shows. The 2024 peak for the series was 100.00 back in March.
  • The central bank will publish a summary of last week’s rate decision at 11:00GMT/13:00 local time. As a reminder, a new line of guidance added to the latest policy statement implies that policy can remain restrictive even if rates are reduced, potentially opening the door to a December rate cut. Our full review for that decision can be found here.
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  • Turkey’s trade deficit widened to $5.909bn in October (Est: -$5.70bn) from a revised deficit of $5.143bn in September. Exports rose 3.1% y/y while imports were unchanged on a year-on-year basis.
  • Meanwhile, Turkey's economic confidence fell to 97.100 in November from 97.991 the month prior, data from the Turkish Statistical Institute shows. The 2024 peak for the series was 100.00 back in March.
  • The central bank will publish a summary of last week’s rate decision at 11:00GMT/13:00 local time. As a reminder, a new line of guidance added to the latest policy statement implies that policy can remain restrictive even if rates are reduced, potentially opening the door to a December rate cut. Our full review for that decision can be found here.