January 29, 2003	Wednesday	Ziqa’ad 25,1423

ANKARA, Jan 28: Turkey, which is emerging from recession, saw its trade deficit increase by 39.6 per cent in the first 11 months of last year, the state statistics institute said on Tuesday.

The trade gap widened to $12.963 billion from $9.284 billion in the same period in 2001, the institute said.

Imports rose by 17.9 per cent to $44.756 billion, while exports climbed by 10.9 per cent to $31.792 billion in the same period, the institute said.

In November alone, imports increased by 32 per cent to 4.699 billion dollars, and exports by 18.6pc to $3.368bn, it added.

In 2001, increased exports, driven by the depreciation of the crisis-hit currency, helped Turkey cut its trade deficit by 65.1 per cent to $9.32bn.

Backed by a $16 billion loan from the International Monetary Fund, Turkey has been battling one of its worst recessions since February 2001. —AFP