Turkey's cotton trade deficit reaches US$9bn in 2002-12

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed US$ 9 billion in past one decade, Hurriyet Daily News reported citing a report by Umut Oran, Deputy Chairman of the Republican People’s Party (CHP).

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

According to the report, since 2002 Turkey imported US$ 21.7 billion worth of cotton, cotton fibre and cotton fabric and exported US$ 12.6 billion of the same.

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

The report notes that growing cotton in Turkey is more expensive as compared to other countries.

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

According to Turkish Statistical Institution data, the country’s cotton cultivation acreage has also reduced by 1.79 billion sq m over the last decade, which caused its contribution to global production to fall from 4.6 percent in 2002 to 2.1 percent last year.

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

Turkey is currently the second largest importer of cotton, next to China, according to the statistics of the United Nations Food and Agriculture Organization (FAO).

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

The price of cotton imported by Turkey has gone up by almost 275 percent over past one decade. Against average procurement price of US$ 2.13 per kg, Turkey sold cotton for US$ 1.69 per kg during January-October 2012, which too laid an impact on its trade deficit.

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

Contributing around US$ 1.3 billion worth of cotton to the country’s US$ 1.8 billion worth of cotton imports, the US turned out to be the leading exporter of cotton to Turkey during 2011.

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #

Brazil stood next, while Greece ranked third. The three countries retained the same positions even in 2012.

 

Cotton imports of Turkey, a major exporter of textiles, is rising continuously and its trade deficit for cotton and allied products has surpassed #