Balance of trade
Turkey's foreign trade deficit in August fell 58 percent on a yearly basis, according to the trade ministry's preliminary data on Sept 1.
The trade balance deficit went up 31.6 percent in the first two months of 2018 as against the similar period of 2017, to over 1.657 billion euro, reads a National Institute of Statistics (INS) release sent to AGERPRES on Tuesday.
Greece did not just go bankrupt because of its runaway budget deficit. Another important factor that contributed to the economic meltdown that has resulted in eight years of crisis, was the country's massive trade deficit - in other words, the fact that Greece was importing goods worth much more than the value of the goods it exported.
The International Monetary Fund warned world leaders on July 28 to avoid resorting to protectionist measures "at all costs" due to the damage it would cause to their own and the global economy.
At a time when President Donald Trump has repeatedly blamed trade for U.S. economic woes, and threatened to impose barriers to imports, the IMF said such policies would not work.
Turkey's foreign trade deficit soared 49.5 percent in May due to a sharp increase in gold imports despite robust car exports, preliminary data from the Customs and Trade Ministry showed on June 2.
The trade deficit rose to $7.65 billion in May, according to the ministry's data, which was compiled by Reuters.
China on March 11 warned the U.S. against launching a trade war, saying that both countries would suffer if U.S. President Donald Trump follows through on his threats.
The billionaire politician has repeatedly accused China of using unfair trade policies to steal jobs from the US, threatening to retaliate with massive tariffs unless Beijing changes tack.
Exports to third countries shrank by 5.9% in 2016 compared to the previous year, national statistics show.
The amount exported for that time was BGN 14.957 B, with Turkey, China, Macedonia, Serbia, Russia and the US being the main non-EU partners for Bulgarian goods, according to preliminary data of the National Statistical Institute (NSI).