Turkiye’s exports decreased by 0.5% in September compared to the same month of the previous year, reaching $22 billion 490 million, and its imports decreased by 14.6%, reaching $27 billion 501 million.
Provisional foreign trade data for September, prepared in cooperation with the Turkish Statistical Institute and the Ministry of Commerce, has been announced.
Accordingly, within the scope of the General Trade System (GTS), exports decreased by 0.5% in September compared to the same month of the previous year, reaching $22 billion 490 million, and imports decreased by 14.6%, reaching $27 billion 501 million.
Foreign trade deficit decreased by 47.8% in September compared to the same month of the previous year, falling from $9 billion 607 million to $5 billion 12 million.
While the export-import coverage ratio was 70.2% in September 2022, it increased to 81.8% last month.
In the January-September period, compared to the same period of the previous year, exports decreased by 0.5% to $187 billion 204 million, while imports increased by 1.2% to $274 billion 432 million.
Foreign trade deficit increased by 4.9% in the January-September period, from $83 billion 142 million to $87 billion 228 million.
While the export-import coverage ratio was 69.3% in January-September 2022, it decreased to 68.2% in the same period this year.
Foreign trade except energy and gold
Exports, excluding energy products and non-monetary gold, decreased by 2.3% in September, from $20 billion 746 million to $20 billion 260 million. In September, imports excluding energy products and non-monetary gold also decreased by 1.5%, from $20 billion 598 million to $20 billion 280 million.
Foreign trade deficit, excluding energy products and non-monetary gold, was $19 million in September. Foreign trade volume decreased by 1.9% to $40 billion 540 million. In the month in question, the ratio of exports to imports, excluding energy and gold, was 99.9%.
The share of the manufacturing industry was 94.1%
When economic activities are examined, the share of the manufacturing industry in exports in September was 94.1%, the share of the agriculture, forestry and fishing sector was 4%, and the share of the mining and quarrying sector was 1.4%.
According to economic activities in the January-September period, the share of the manufacturing industry in exports was recorded as 94.5%, the share of the agriculture, forestry and fishing sector was 3.5%, and the share of the mining and quarrying sector was 1.5%.
According to the classification of broad economic groups, the share of intermediate goods in imports in September was calculated as 71.3%, the share of capital goods was 14.9% and the share of consumer goods was 13.7%.
In the January-September period, the share of intermediate goods was 73.5%, the share of capital goods was 13.9% and the share of consumer goods was 12.5%.
Germany ranks first in exports and China ranks first in imports in September
In September, Germany ranked first in exports with $1 billion 746 million. This country was followed by the USA with $1 billion 201 million, Iraq with $1 billion 196 million, Italy with $1 billion 96 million and the United Kingdom with $1 billion 69 million. Exports to the top 5 countries in the month in question constituted 28.1% of total exports.
Germany ranked first in exports in the January-September period. Exports worth $15 billion 904 million were made to this country. Germany was followed by the USA with $11 billion 7 million, Italy with $9 billion 156 million, the United Kingdom with $9 billion 87 million and Iraq with $8 billion 933 million. Exports to the top 5 countries corresponded to 28.9% of total exports.
China ranked first in imports in September. While imports from China were $3 billion 728 million, this country was followed by Russia with $3 billion 134 million, Germany with $2 billion 357 million, the USA with $1 billion 249 million, and the United Arab Emirates with $1 billion 175 million. Imports from the first 5 countries constituted 42.3% of total imports.
In the January-September period, Russia ranked first in imports. The amount of imports from this country amounted to $34 billion 705 million. Russia was followed by China with $34 billion 397 million, Germany with $21 billion 190 million, Switzerland with $16 billion 563 million, and the USA with $11 billion 840 million. Imports from the first 5 countries corresponded to 43.3% of total imports.
According to the series adjusted for seasonal and calendar effects, exports increased by 1.7% in September compared to the previous month, while imports decreased by 6.5%. According to the series adjusted for calendar effects, exports increased by 2% in September compared to the same month of the previous year, while imports decreased by 12.7%.
Foreign trade data according to technology intensity covers manufacturing industry products included in the “ISIC Rev.4” classification. According to this classification, the share of manufacturing industry products in total exports was 94.1% in September. The share of high technology products in manufacturing industry products exports was recorded as 4.1%.
According to “ISIC Rev.4”, the share of manufacturing industry products in total exports was calculated as 94.5% in the January-September period. In the same period, the share of high technology products in manufacturing industry exports was 3.6%.
In September, the share of manufacturing industry products in total imports was determined as 83.6%. The share of high technology products in manufacturing industry products imports was recorded as 10.5%.
In the January-September period, the share of manufacturing industry products in total imports was 80.7%. In the said period, the share of high technology products in manufacturing industry products imports was recorded as 10.2%.
Private Trading System data
According to the Special Trade System, exports decreased by 0.8% to $20 billion 452 million in September compared to the same month of the previous year, and imports decreased by 14.8% to $25 billion 723 million.
In September, the foreign trade deficit decreased by 44.9%, from $9 billion 568 million to $5 billion 271 million. While the export-import coverage ratio was 68.3% in September 2022, it increased to 79.5% in the same month of this year.
According to the Special Trade System, exports decreased by 2.7% in the January-September period compared to the same period last year, reaching $170 billion 172 million, while imports increased by 0.4%, reaching $256 billion 717 million.
In the January-September period, foreign trade deficit increased by 7.2%, from $80 billion 722 million to $86 billion 545 million. While the export-import coverage ratio was 68.4% in January-September 2022, it was 66.3% in the same period this year.
Source: AA / Prepared by Irem Yildiz