Türkiye’s imports, exports decreased in June: Official data

ANKARA

Türkiye’s exports were $20.9 billion in June with a 10.5 percent decrease and imports were $26.6 billion with a 17.5 percent decrease compared with June 2022, official data has showed on July 28.

According to the provisional data, produced with the cooperation of the Turkish Statistical Institute (TÜİK) and the Trade Ministry, the foreign trade deficit decreased by 37.3 percent in June compared to the same month last year, from $8.24 billion to $5.16 billion.

The ratio of exports to imports increased from 73.9 percent in June 2022 to 80.2 percent last month.

In the January-June period, compared to the same period last year, exports decreased by 1.9 percent to $123.34 billion and imports increased by 4.1 percent to $184.58 billion.

The foreign trade deficit increased by 18.7 percent to $61.23 billion in the January-June period.

While the ratio of exports to imports was 70.9 percent in January-June 2022, it decreased to 66.8 percent in the same period of this year.

Analyzing the economic activities, the share of the manufacturing industry in exports in June was 95.2 percent, the share of agriculture, forestry and fishing was 2.8 percent, and the share of mining and quarrying was 1.5 percent.

According to economic activities in the January-June period, the share of manufacturing in exports was 94.7 percent, the share of agriculture, forestry and fishing was 3.3 percent, and the share of mining and quarrying was 1.5 percent.

In June, Germany ranked first in exports with $1.78 billion. It was followed by the United States with $1.33 billion, Italy with $1.1 billion, the United Kingdom with $1.06 billion and Iraq with $986 million. Exports to the top five countries in the said month accounted for 29.6 percent of total exports.

China ranked first in imports. Imports from this country totaled $3.75 billion, followed by Russia with $2.91 billion, Germany with $2.11 billion, Switzerland with $1.31 billion and Italy with $1.12 billion.