Despite earthquakes, Turkiye raises its exports in March and Q1
Despite the devastating earthquakes, Turkiye saw an increase in exports in March to the tune of $23.6 billion, a 4.4% year-on-year rise, the country’s trade minister said Tuesday.
The twin quakes in early February hit 11 provinces. The share of these regions in the country’s overall exports was at 8.6% in 2022, Mehmet Mus said at a press briefing in Istanbul.
Turkiye’s imports also rose by 4.2% to $32.2 billion in March, the minister added.
The country’s foreign trade balance posted a gap of $8.26 billion in the month, the Turkish Exporters Assembly (TIM) data showed.
Meanwhile, Turkiye’s exports in the first quarter amounted to $61.6 billion,up 2.5%, while imports rose by 11.4% to $96.5 billion, Mus said.
The foreign trade gap was at $34.9 billion in the first quarter of this year, according to TIM figures.
The TIM data showed that Germany was the main destination for Turkish exports in March with $2 billion, followed by the US ($1.38 billion), and Italy ($1.19 billion).
The main import destinations for the country in March were Russia ($3.99 billion), China ($3.78 billion) and Germany ($2.69 billion).
The EU’s imports from Turkiye totaled $9.76 billion in March, while its exports to Turkiye amounted to $10.12 billion.