Turkey’s Erdogan says exports rose 9.6 percent in February

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Turkish President Recep Tayyip Erdogan said late on Monday that exports rose 9.6 percent year-on-year to more than $16 billion in February, with the foreign trade deficit declining 15.3 percent in the first two months of the year.

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Erdogan was speaking at a news conference after a cabinet meeting. The Trade Ministry was scheduled to announce the February trade data at 11:30 am (0830 GMT).

Last week, Turkey’s lira tumbled as much as some 3.5 percent on Thursday, giving up all of this year’s gains as US bond yields continued to rise.

The currency stood at 7.3650 against the dollar at 1901 GMT, compared to a close of 7.17 on Wednesday. Earlier, it weakened 3.6 percent to 7.44, the closing level of 2020.

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