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Turkey’s foreign trade deficit decreased by 47.5% in September

In September 2021, exports increased by 30% compared to the same month of the previous year and reached $20 billion 780 million, while imports increased by 11.9% and reached $23 billion 328 million.

In September, the foreign trade deficit decreased by 47.5% compared to the same month of the previous year and decreased to $2 billion 547 million.

According to the temporary foreign trade data produced within the scope of the general trade system established in cooperation with the Turkish Statistical Institute (TUIK) and the Ministry of Trade, In September 2021, exports increased by 30.0% compared to the same month of the previous year and amounted to $20 billion 780 million, while imports increased by 11.9% to $23 billion 328 million.

IN JANUARY-SEPTEMBER PERIOD, EXPORTS INCREASED BY 35.9%, IMPORTS INCREASED BY 23.7%

According to the general trade system, in the January-September period of 2021, exports increased by 35.9% compared to the same period of the previous year and reached $160 billion 951 million, while imports increased by 23.7% to $193 billion 301 million.

EXPORTS OF ENERGY PRODUCTS AND GOLD INCREASED BY 28.5%, IMPORTS INCREASED BY 25.7% IN SEPTEMBER

Exports, excluding energy products and non-monetary gold, increased by 28.5% in September 2021 from $15 billion 528 million to $19 billion 958 million.

In September, imports excluding energy products and non-monetary gold increased by 25.7% from $14 billion 779 million to $18 billion 577 million.

Foreign trade surplus excluding energy products and non-monetary gold was $1 billion 381 million in September. Foreign trade volume increased by 27.1% and reached $38 billion 535 million. In the said month, the ratio of exports to imports excluding energy and gold was 107.4%.

FOREIGN TRADE DEFICIT DECREASED BY 47.5% IN SEPTEMBER

In September, the foreign trade deficit decreased by 47.5% compared to the same month of the previous year, from $4 billion 856 million to $2 billion 547 million. While the ratio of exports to imports was 76.7% in September 2020, it increased to 89.1% in September 2021.

FOREIGN TRADE DEFICIT DECREASED BY 14.6% IN JANUARY-SEPTEMBER PERIOD

In the January-September period, the foreign trade deficit decreased by 14.6% from $37 billion 876 million to $32 billion 351 million. While the ratio of exports to imports was 75.8% in the January-September period of 2020, it increased to 83.3% in the same period of 2021.

IN SEPTEMBER, THE SHARE OF THE MANUFACTURING INDUSTRY IN THE TOTAL EXPORT WAS 94.6%

According to economic activities, in September 2021, the share of the manufacturing industry was 94.6% , the share of agriculture, forestry and fisheries was 2.9%, and the share of the mining and quarrying sector was 1.9%.

IN SEPTEMBER, THE SHARE OF INTERMEDIATE GOODS IN TOTAL IMPORTS WAS 78.0%

According to the broad economic groups classification, in September 2021, the share of intermediate goods was 78.0%, the share of capital goods was 12.9% and the share of consumer goods was 9.0%.

In imports, the share of intermediate goods was 76.6%, the share of capital goods was 13.6% and the share of consumer goods was 9.6% in the January-September 2021 period.

GERMANY WAS THE MOST EXPORTED COUNTRY IN SEPTEMBER

In September, Germany took the first place in exports. While exports to Germany were $1 billion 696 million, this country was followed by the USA with $1 billion 390 million, the United Kingdom with $1 billion 261 million, Iraq with $1 billion 30 million, and Italy with $1 billion 21 million. Exports to the first 5 countries accounted for 30.8% of total exports.

Germany took the first place in exports in the January-September period. While the export to Germany is $14 billion 99 million; It was followed by the USA with $10 billion 530 million, the United Kingdom with $9 billion 674 million, Italy with $8 billion 98 million and Iraq with $7 billion 628 million. Exports to the first 5 countries accounted for 31.1% of total exports.

CHINA TAKES THE FIRST RANK IN IMPORTS

China took the first place in imports. While imports from China amounted to $2 billion 897 million in September, this country was followed by Russia with $2 billion 417 million, Germany with $1 billion 718 million, the USA with $1 billion 412 million, and India with $919 million. Imports from the first 5 countries constituted 40.1% of total imports.

In the January-September period, China took the first place in imports. While the import from China was $23 billion 536 million, this country was followed by Russia with $20 billion 178 million, Germany with $16 billion 364 million, the USA with $9 billion 457 million, and Italy with $8 billion 362 million. Imports from the first 5 countries accounted for 40.3% of total imports.

EXPORTS INCREASED BY 0.2% ACCORDING TO SEASONAL AND CALENDAR ADJUSTED SERIES

According to the seasonally and calendar adjusted series, exports increased by 0.2% in September 2021 compared to the previous month, while imports decreased by 3.6%. According to the calendar adjusted series, exports increased by 30.3% and imports by 11.8% in September 2021 compared to the same month of the previous year.

THE SHARE OF HIGH-TECH PRODUCTS IN THE MANUFACTURING INDUSTRY EXPORT IS 2.8%

In September, the share of manufacturing industry products in total exports was 94.6%. The share of high-tech products in the export of manufacturing industry products was 2.8%. In the January-September period, the share of manufacturing industry products in total exports was 94.6%. In the January-September period, the share of high-tech products in manufacturing industry products was 3%.

In September, the share of manufacturing industry products in total imports was 77.6%. The share of high technology products in the import of manufacturing industry products was 12.3%. In the January-September period, the share of manufacturing industry products in total imports was 77.9%. In the January-September period, the share of high-tech products in the imports of manufacturing industry products was 12.8%.

EXPORTS ACCORDING TO THE PRIVATE TRADE SYSTEM AMOUNTED TO $19 BILLION 628 MILLION IN SEPTEMBER 2021

According to the special trade system, in September 2021, exports increased by 29.2% compared to the same month of the previous year and amounted to $19 billion 628 million, while imports increased by 11.5% to $22 billion 299 million.

In September, the foreign trade deficit decreased by 44.5% from $4 billion 812 million to $2 billion 671 million. While the ratio of exports to imports was 75.9% in September 2020, it increased to 88.0% in September 2021.

EXPORTS AMOUNTED TO $152 BILLION 544 MILLION IN JANUARY-SEPTEMBER PERIOD

According to the special trade system, in the January-September period of 2021, exports increased by 36.2% compared to the same period of the previous year and amounted to $152 billion 544 million, while imports increased by 23.9% to $185 billion 743 million.

In the January-September period, the foreign trade deficit decreased by 12.4% from $37 billion 883 million to $33 billion 200 million. While the ratio of exports to imports was 74.7% in the January-September period of 2020, it increased to 82.1% in the same period of 2021.

Source: Sabah / Translated by Irem Yildiz

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