Agriculture and food exports generate $12.2 billion in revenue

ISTANBUL

Türkiye’s agriculture, food and drinks industry has generated a total of $12.23 billion in export revenues in the first six months of 2023.

The industry’s imports, on the other hand, amounted to $12.46 billion, according to the Federation of Food and Drink Industry Associations (TGDF).

Export and imports rose 1 percent and nearly 18 percent, respectively, from a year ago.

In June alone, the industry’s export revenues stood at $1.82 billion, pointing to an annual decline of 14.7 percent, while imports fell 8.1 percent to $1.64 billion.

In the first half of 2022, the industry posted foreign trade surplus of $1.7 billion, but in the same period of this year it produced a trade gap of $230 million. The sector posted trade deficits in May and June.

Flour was the sector’s top export product with revenues at $683 million, followed by sunflower oil at $494 million and hazelnut at $456 million.

Türkiye spent $2.3 billion on wheat imports, while soybean imports amounted to $1 billion. Crude sunflower oil imports cost the country $917 million.

Türkiye paid $1.65 billion for the wheat it imported from Russia and another $608 million for the Ukrainian wheat.

The largest supplier of soybean was Brazil at $579 million, while Ukraine was the main supplier of sunflower oil at $572 million.

Iraq was the largest export market for the sector with shipments to this country generating $1.4 billion in revenues. Germany and Russia came second and third at $889 million and $884 million, respectively. The U.S. - $825 million - and Italy - $401 million - were other major export markets.