Temporary foreign trade data for February, created in cooperation with the Turkish Statistical Institute (TUIK) and the Ministry of Commerce, has been announced.
Accordingly, within the scope of GTS, exports increased by 4.1 percent in the January-February period compared to the same period of the previous year, reaching 29 billion 357 million dollars, and imports increased by 14.3 percent, reaching 36 billion 841 million dollars.
In February, exports increased by 2.3 percent compared to the same month of the previous year, reaching 14 billion 653 million dollars, and imports increased by 9.8 percent, reaching 17 billion 634 million dollars.
The foreign trade deficit increased by 72 percent in February, reaching 2 billion 981 million dollars, and increased by 86 percent in the January-February period, reaching 7 billion 484 million dollars.
While the export-import coverage ratio was 89.2 percent in February 2019, it decreased to 83.1 percent in the same month this year. In the January-February period, the export-import coverage ratio, which was 87.5 percent in 2019, decreased to 79.7 percent in 2020.
Private Trading System data
According to the Special Trade System, exports increased by 3.8 percent in the January-February period compared to the same period of the previous year, reaching 27 billion 775 million dollars, and imports increased by 13.2 percent, reaching 35 billion 529 million dollars.
In February, exports increased by 2.6 percent compared to the same month last year, reaching 13 billion 927 million dollars, and imports increased by 8.2 percent, reaching 17 billion 23 million dollars.
Foreign trade deficit increased by 43.6 percent in February, from 2 billion 157 million dollars to 3 billion 96 million dollars. In the January-February period, the deficit increased by 66.8 percent and reached 7 billion 754 million dollars.
While the export-import coverage ratio was 86.3 percent in February 2019, it decreased to 81.8 percent in February this year. While the rate in question was 85.2 in the January-February period last year, it was recorded as 78.2 this year.
Distribution of exports by sectors
Accordingly, when economic activities are examined, the share of the manufacturing industry in exports in February was 95 percent, the share of the agriculture, forestry and fishing sector was 3.2 percent, and the share of the mining and quarrying sector was 1.2 percent.
According to economic activities in the January-February period, the share of the manufacturing industry in exports was calculated as 94.5 percent, the share of the agriculture, forestry and fishing sector was 3.6 percent, and the share of the mining and quarrying sector was 1.5 percent.
According to the classification of broad economic groups, the share of intermediate goods in imports was recorded as 76.2 percent, the share of capital goods was 12.4 percent and the share of consumer goods was 11.1 percent.
In the January-February period, the share of intermediate goods was 77.2 percent, the share of capital goods was 12.2 percent and the share of consumer goods was 10.2 percent.
Germany in exports, Russia in imports
While Germany ranked first among the countries to which exports were made in the month in question, 1 billion 341 million dollars were exported to this country.
Germany was followed by Iraq with 906 million dollars, the United Kingdom with 857 million dollars, Italy with 766 million dollars and the USA with 740 million dollars. Exports to the first 5 countries constituted 31.5 percent of the total.
Germany ranked first in exports in the January-February period. While exports to Germany were 2 billion 755 million, this country was followed by the United Kingdom with 1 billion 725 million dollars, Iraq with 1 billion 722 million dollars, Italy with 1 billion 650 million dollars and the USA with 1 billion 486 million dollars. Exports to the first 5 countries corresponded to 31.8 percent of the total.
In imports, the Russian Federation ranked first. While imports from the Russian Federation amounted to 1 billion 714 million dollars in February, this country was followed by China with 1 billion 712 million dollars, Germany with 1 billion 623 million dollars, the USA with 1 billion 133 million dollars and Iraq with 750 million dollars. Imports from the first 5 countries constituted 39.3 percent of total imports.
In the January-February period, the Russian Federation ranked first in imports. During this period, imports from the Russian Federation were 3 billion 797 million dollars, followed by China with 3 billion 598 million dollars, Germany with 2 billion 971 million dollars, the USA with 2 billion 356 million dollars and Iraq with 1 billion 545 million dollars. Imports from the first 5 countries covered 38.7 percent of the total.
According to the series adjusted for seasonal and calendar effects, exports decreased by 3.6 percent and imports decreased by 7.2 percent in February compared to the previous month. According to the series adjusted for calendar effects, exports increased by 1.4 percent and imports increased by 9.2 percent in February compared to the same month of the previous year.
On the other hand, the share of high technology products in manufacturing industry products exports was recorded as 3.4 percent in February, and the share of high technology products in manufacturing industry products exports was recorded as 3.2 percent in the January-February period.
The share of manufacturing industry products in total imports was calculated as 77.9 percent in February, and 76.8 percent in the January-February period. The share of high technology products in imports of manufacturing industry products was 12.9 percent, and 13 percent in the January-February period.
Source: https://www.aa.com.tr/tr/ekonomi/ihracat-subatta-artti/1785978
