Turkiye’s Jul exports rise by 13.4% YoY, imports increase by 41.4% YoY

Turkiye’s exports and imports in July increased year on year (YoY) by 13.4 per cent and 41.4 per cent respectively to $18.551 billion and $29.24 billion, provisional data released by the Turkish Statistical Institute and the ministry of trade show. Exports and imports increased by 19.1 per cent and 40.7 per cent YoY respectively in the January-July period.

Between January and July this year, the country’s exports were worth $144.331 billion and imports were worth $206.508 billion.

Turkiye’s exports and imports in July increased year on year (YoY) by 13.4 per cent and 41.4 per cent respectively to $18.551 billion and $29.24 billion, provisional data released by the Turkish Statistical Institute and the ministry of trade show. Exports and imports increased by 19.1 per cent and 40.7 per cent YoY respectively in the January-July period.

Foreign trade deficit, excluding energy products and non-monetary gold, was at $2.943 billion in July. Foreign trade volume was worth $36.582 billion—a 13.5 per cent YoY increase. The overall foreign trade deficit in July this year was at $10.69 billion.

In the January-July 2022 period, foreign trade deficit was worth $62.177 billion—a 143.7 per cent increase YoY.

In July this year, the main partner for exports was Germany with a figure of $1.49 billion, followed by the United States ($1.315 billion), the United Kingdom ($1.15 billion), Iraq ($1.2 billion), Italy ($850 million). The share of the first five countries in the total exports was 30.6 per cent in July.

In the January-July 2022 period, the main partner country for exports was Germany ($12.114 billion), followed by the United States ($9.938 billion), the United Kingdom ($7.501 billion), Italy ($7.46 billion), and Iraq ($7.355 billion). The share of the first five countries in the total exports was 30.7 per cent during the period.

In July, the top country for Turkiye’s imports was Russia ($4.374 billion), followed by China ($3.804 billion), Germany ($1.779 billion), Switzerland ($1.446 billion) and the United States ($1.389 billion). The share of the first five countries in the total imports was 43.7 per cent in the month.

In the January-July 2022 period, the top partner for the country’s imports was Russia ($32.116 billion),  followed by China ($23.887 billion), Germany ($13.279 billion), the United States ($8.971 billion), Italy ($7.956 billion). The share of the first five countries in the total imports was 41.7 per cent during the seven-month period.

Fibre2Fashion News Desk (DS)