Turkiye’s exports grew 15.4 per cent to $209.39 billion in January-October 2022, compared to January-October 2021.

The country’s foreign trade deficit increased by 421.7 per cent YoY to $7.87 billion in October 2022. Exports coverage imports was 73 per cent in October 2022, compared to 93.2 per cent in October 2021, according to the Turkish Statistical Institute.

In January-October 2022 period, Turkiye’s foreign trade deficit was $91.49 billion with a 168.3-per cent increase compared with January-October 2021. In the same period, exports coverage imports was 69.7 per cent, while it was 84.3 per cent in January-October 2021.

In October 2022, according to economic activities, the ratio of manufacturing industries products in total exports was 94.7 per cent. This ratio was same for the period of January-October 2022.

The ratio of Turkiye’s intermediate goods in total imports was 79.3 per cent in October 2022, and for the period of January-October 2022, the ratio of intermediate goods in total imports was 81.2 per cent.

In October 2022, Turkiye’s main partner for exports was Germany with $1.68 billion dollars, followed by Iraq with $1.41 billion, US with $1.30 billion, Russia with $1.14 billion, and UK with $1.10 billion. The ratio of the first five countries in total exports was 31.3 per cent in October 2022.

In January-October 2022 period, Turkiye’s main partner country for exports was Germany with 17.46 billion. The country was followed by US with $14.55 billion, Iraq with $11.30 billion, UK with $10.90 billion, and Italy with $10.22 billion. The ratio of the first five countries in total exports was 30.5 per cent in January-October 2022.

In October 2022, the top country for Turkiye's imports was Russia with $4.98 billion. The country was followed by China with $2.85 billion, Switzerland with $2.38 billion, Germany with $1.96 billion, and US with $1.21 billion. The ratio of first five countries in total imports was 45.9 per cent in October 2022.

In January-October 2022 period, the top country for Turkiye's imports was Russia with $49.62 billion. The country was followed by China with 34.59 billion, Germany with $19.32 billion, US with 13.22 billion, and Italy with 11.45 billion. The ratio of first five countries in total imports was 42.6 per cent in January-October 2022.

Turkiye’s seasonally and calendar adjusted exports and imports in October 2022 decreased by 2.9 per cent and 4.6 per cent respectively compared with previous month. Calendar adjusted exports and imports increased by 2.6 per cent and 29.6 per cent respectively compared with October 2021.

According to the special trade system, in October 2022, exports were $19.50 billion with a 1.3-per cent decrease and imports were $27.49 billion with a 27.3-per cent increase, compared with October 2021.

In January-October 2021, exports were $194.41 billion with a 12.9-per cent increase and imports were $283.16 billion with a 36.6-per cent increase, compared with January-October 2021, according to the special trade system.

Fibre2Fashion News Desk (DP)