Exports jump 24.6% on annual basis, imports up 35% to $29.4B, official data shows
Turkiye’s exports and imports saw an annual rise of 24.6% and 35% to reach $23.3 billion and $29.4 billion, respectively, according to official figures released on Tuesday.
Imports, excluding energy products and non-monetary gold, stood at $21.2 billion with a 16.4% rise in the month.
The ratio of intermediate goods, capital goods and consumption goods in total imports were 81.6%,10.8% and 7.4%, respectively.
Foreign trade volume reached $44 billion with a 19.6% increase. Energy products and non-monetary gold excluded export coverage imports was 103%, according to the Turkish Statistical Institute (TurkStat).
Turkiye’s main partner for exports was Germany with $2.2 billion,followed by the US at $1.7 billion and the UK with $1.1 billion.
The top country for Turkiye’s imports was Russia with $5.4 billion, followed by China at $3.2 billion, Germany at $2.8 billion and Italy with $1.7 billion.
The foreign trade deficit rose by 98.5% to $6.1 billion in April compared to the same month last year.
“In April 2022, exports coverage imports was 79.3%, while it was 85.9% in April 2021,” read a TurkStat statement.