According to preliminary data from the Italian National Institute of Statistics (ISTAT), Turkey’s trade with Italy increased significantly in January of this year compared to the same month last year. The data show that the trade balance between the two nations hit 2 million euros, with Italy running a trade deficit -- a relatively small imbalance. Exports to Turkey had decreased by 24 percent over 2008, totaling 5.7 billion euros in 2009.
Imports from Turkey also fell a similar 20.8 percent over 2008 to settle at 4.4 billion euros.
These new trade figures indicate that trade between the two nations may be recovering after a difficult year of trade for both the EU and Turkey. The data also showed that extra-EU trade increased, with exports from Italy to extra-EU countries increasing by 4.7 percent, and imports increasing by 3.7 percent.
