Business

$136.5 billion of “technology-intensive products” were exported

Turkiye’s exports of “technology-intensive products” increased by 19.2% in the 7 months of the year compared to the same period of the previous year, reaching $136.5 billion. Turkiye’s exports of technology-intensive manufacturing industry products have increased recently.

Looking at the data of the Ministry of Commerce and the Turkish Statistical Institute, exports of high, medium high, medium low and low technology products totaled $212 billion 809 million last year. A 33% increase in these products in 2021 compared to the previous year was remarkable.

Of the exports in this category, nearly $6.5 billion consisted of high-tech products and $71 billion consisted of medium-high technology products.

High-tech product exports reached $3.8 billion in 7 months

The increase in the exports of technology-intensive products last year continued in the 7 months of this year.

In the January-July period, according to technology intensity, exports of manufacturing industry products increased by 19.2% compared to the same period of the previous year and reached $136 billion 548 million. This figure was recorded as approximately $114 billion 542 million in the same period of last year.

In the 7 months of this year, exports were approximately $3.8 billion in high-tech products, $45.8 billion in medium-high technology, $43.9 billion in medium-low technology products and $43.7 billion in low-tech products. Compared to the same period of the previous year, 11,5% increases in high-tech product exports and 14,1% increases in medium-high technology products came to the fore.

The declining trend in high-tech product imports

In the January-July period, according to technology intensity, imports of manufacturing industry products increased by 25.6% compared to the same period of the previous year and reached $144 billion 129 million. In the same period of 2021, the import of these products was at the level of $114.7 billion.

The decline in imports of “high-tech products” in the aforementioned 7 months drew attention. Having imported $14.6 billion of high-tech products in the January-July period of last year, Turkiye made foreign purchases of $13.7 billion in the same period of this year. Thus, imports of high-tech products decreased by 6.3%.

Imports amounted to approximately $61.8 billion in the “medium-high technology products” category, $50.5 billion in the “medium-low technology products” and $17.9 billion in the “low technology products”.

Source: Trthaber / Translated by Irem Yildiz

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