The trade deficit in Turkey shrank markedly in December. The Turkish Statistical Institute reported it at $3.08 billion, compared with $4.18 billion in November and $4.44 billion in December 2005. This was the smallest deficit since $3.01 billion in January 2006. After seasonal adjustment by Haver Analytics, the comparison is more distinct. December's $2.03 billion deficit was the lowest since $1.30 billion in November 2003.

Exports totaled $7.87 billion in the month, actually down 8.6% from November, but up 16.6% from a year ago. The largest categories were in the machinery sector, especially including transport equipment. Turkey is growing rapidly as a producer of cars and trucks. In 2006 as a whole, plants in the country produced 916,008 cars and pick-up trucks. Exports of these and other vehicles totaled $11.7 billion, making 13.8% of total goods exports. Total exports grew 15.9% last year, with "road vehicles" up 24.4%.

Imports were $9.90 billion, seasonally adjusted, in December, down from November by $2.9 billion or 22.5%. The unadjusted data were down 9.5% in the month. In most recent years, before seasonal adjustment, imports have spiked in December, then fallen sharply in January. So the outright decline in December's actual figure translated into a sizable cut in the seasonally adjusted result. Sources of the decline included petroleum and natural gas, chemicals, metals and transport equipment. For all of 2006, imports totaled $137.03 billion, up 17.3% from 2005.

Data on Turkey from its official national sources are contained in Haver's EMERGEMA database. That rapidly expanding database now includes 18 Middle East and African countries.