Large increase in foreign trade deficit

According to the temporary foreign trade data produced under the general trading system in cooperation with the Turkish Statistical Institute and the Ministry of Commerce; In June 2022, exports increased by 18.7% year-on-year and reached 23 billion 428 million dollars, while imports increased 39.7% and reached 31 billion 595 million dollars.

JANUARY-JUNE PERIOD

According to the general trading system, in the period January-June 2022, exports increased by 20.0% over the same period of the previous year and reached 125 billion 866 million dollars, while imports increased by 40.6% to 177 billion 267 million dollars.

EXPORT AND IMPORT FEES EXCLUDING ENERGY PRODUCTS AND GOLD

Exports excluding energy products and non-monetary gold increased by 15.7% in June 2022, from 18 billion 895 million dollars to 21 billion 856 million dollars.

In June, imports excluding energy products and non-monetary gold increased by 19.4%, from 18 billion 646 million dollars to 22 billion 272 million dollars.

The foreign trade deficit excluding energy products and non-monetary gold was US$416 million in June. The volume of foreign trade increased by 17.5 percent and reached 44 billion and 128 million dollars. In that month, the ratio of exports to imports excluding energy and gold was 98.1 percent.

FOREIGN TRADE DEFICIT INCREASED 184.5 PERCENT IN JUNE

In June, the foreign trade deficit increased by 184.5 percent compared to the same month of the previous year and went from 2 billion 871 million dollars to 8 billion 167 million dollars. While the ratio of exports to imports was 87.3% in June 2021, it decreased to 74.1% in June 2022.

FOREIGN TRADE DEFICIT INCREASED 142.7 PERCENT IN JANUARY-JUNE PERIOD

In the January-June period, the foreign trade deficit increased by 142.7% and went from 21 billion and 181 million dollars to 51 billion and 400 million dollars. While the proportion of exports to imports was 83.2% in the period from January to June 2021, it decreased to 71.0% in the same period of 2022.

MANUFACTURING INDUSTRY’S PARTICIPATION IN TOTAL EXPORTS 94.9 PERCENT

According to economic activities, the share of the manufacturing industry in June 2022 was 94.9%, the share of the agricultural, forestry and fishing sector was 2.9% and the share of the mining and quarrying sector was 1 .7%.

According to economic activities in the period January-June, the share of the manufacturing industry in exports was 94.6%, the share of the agricultural, forestry and fishing sector was 3.1% and the share of the mining and quarrying sector was 1.8%. .

SHARE OF INTERMEDIATE GOODS IN TOTAL IMPORTS 81.5 PERCENT

According to the broad classification of economic groups, in June 2022, the share of intermediate goods was 81.5%, the share of capital goods was 10.1% and the share of consumer goods was 8, 4%.

In the period January-June 2022, the share of intermediate goods was 82.1%, the share of capital goods was 10.3% and the share of consumer goods was 7.5%.

GERMANY WAS THE MOST EXPORTED COUNTRY

Germany ranked first in exports in June. While the export to Germany is 1 billion 875 million dollars, this country is respectively; The US followed with 1 billion 555 million dollars, the United Kingdom with 1 billion 209 million dollars, Iraq with 1 billion 206 million dollars and Italy with 1 billion 150 million dollars. Exports to the first 5 countries accounted for 29.9 percent of total exports.

Germany occupied the first place in exports in the period January-June. While the export to Germany is 10 billion 642 million dollars, this country is respectively; The USA followed with 8 billion and 658 million dollars, Italy with 6 billion and 612 million dollars, the United Kingdom with 6 billion and 489 million dollars and Iraq with 6 billion and 362 million dollars. Exports to the first 5 countries accounted for 30.8 percent of total exports.

THE RUSSIAN FEDERATION OCCUPIES THE FIRST CLASSIFIED IN IMPORTS

The Russian Federation ranked first in imports. While the import from the Russian Federation was 5 billion 92 million dollars in June, this country is respectively; China with 3 billion 666 million dollars, Germany with 1 billion 997 million dollars, Italy with 1 billion 407 million dollars and the USA with 1 billion 335 million dollars. Imports from the first 5 countries accounted for 42.7 percent of total imports.

In the period from January to June, the Russian Federation took the first place in imports. While imports from the Russian Federation amounted to 27 billion 742 million dollars respectively; China with 20 billion and 82 million dollars, Germany with 11 billion and 499 million dollars, the USA with 7 billion and 583 million dollars and Italy with 6 billion and 746 million dollars. Imports from the top 5 countries constituted 41.5 percent of total imports.

SEASONAL ADJUSTED EXPORT RATE AND CALENDAR

According to seasonally adjusted and calendar series; In June 2022, exports increased by 5.5% and imports by 0.1% compared to the previous month. According to the calendar set series; In June 2022, compared to the same month of the previous year, exports increased by 19% and imports increased by 40.3%.

EXPORT RATE BY PRIVATE TRADE SYSTEM

According to the special trade regime, in June 2022, exports increased by 15.9% from the same month of the previous year and totaled 21 billion 762 million dollars, while imports increased 33.3% to 29 billion 178 million dollars.

In June, the foreign trade deficit increased by 138.3%, from 3 billion and 112 million dollars to 7 billion and 417 million dollars. While the ratio of exports to imports was 85.8% in June 2021, it decreased to 74.6% in June 2022.

EXPORTS MADE 118 BILLION AND 55 MILLION DOLLARS IN JANUARY-JUNE 2022

According to the special trade regime, in the period January-June 2022, exports increased by 18.7% over the same period of the previous year and totaled 118 billion 55 million dollars, while imports increased by 38.7% to 168 billion 137 million dollars.

In the January-June period, the foreign trade deficit increased by 130.1% from 21 billion 762 million dollars to 50 billion 82 million dollars. While the ratio of exports to imports was 82.0% in the period from January to June 2021, it decreased to 70.2% in the same period of 2022.

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