Provisional foreign trade data for March, created in cooperation with the Turkish Statistical Institute (TUIK) and the Ministry of Commerce, has been announced.
Accordingly, within the scope of the General Trade System (GTS), exports decreased by 17.8 percent in March compared to the same month of the previous year, reaching 13 billion 422 million dollars, while imports increased by 3.1 percent, reaching 18 billion 813 million dollars.
Foreign trade deficit increased by 181.6 percent in March, reaching 5 billion 391 million dollars. The export-import coverage ratio, which was 89.5 percent in March 2019, decreased to 71.3 percent.
In the January-March period, exports decreased by 4 percent compared to the same period last year, falling to 42 billion 749 million dollars, while imports increased by 10.3 percent to 55 billion 655 million dollars.
Foreign trade deficit increased by 117.3 percent in the January-March period, reaching 12 billion 906 million dollars. While the export-import coverage ratio was 88.2 percent in January-March 2019, it decreased to 76.8 percent in the same period this year.
Distribution by sectors
Accordingly, when economic activities are examined, the share of the manufacturing industry in exports in March was 94.7 percent, the share of the agriculture, forestry and fishing sector was 3.3 percent, and the share of the mining and quarrying sector was 1.5 percent.
According to economic activities in the January-March period, the share of the manufacturing industry in exports was calculated as 94.6 percent, the share of the agriculture, forestry and fishing sector was 3.5 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 75.3 percent, the share of capital goods was 13.6 percent and the share of consumer goods was 11 percent.
In the January-March period, the share of intermediate goods was 76.5 percent, the share of capital goods was 12.7 percent and the share of consumer goods was 10.5 percent.
Germany ranks first in exports and imports
While Germany ranked first among the countries to which exports were made in the month in question, 1 billion 282 million dollars were exported to this country.
Germany was followed by the USA with 880 million dollars, the United Kingdom with 801 million dollars, Italy with 541 million dollars and Spain with 507 million dollars. Exports to the top 5 countries constituted 29.9 percent of total exports.
Germany ranked first in exports in the January-March period. While exports to Germany were 4 billion 36 million, this country was followed by the United Kingdom with 2 billion 525 million dollars, the USA with 2 billion 366 million dollars, Iraq with 2 billion 211 million dollars and Italy with 2 billion 191 million dollars. Exports to the first 5 countries corresponded to 31.2 percent of total exports.
Germany ranked first in imports last month. While imports from Germany were 1 billion 950 million dollars in March, this country was followed by China with 1 billion 420 million dollars, the USA with 1 billion 417 million dollars, the Russian Federation with 1 billion 378 million dollars and Switzerland with 991 million dollars. Imports from the first 5 countries constituted 38 percent of total imports.
Russian Federation ranked first in imports in the January-March period. During this period, imports from the Russian Federation were 5 billion 176 million dollars, followed by China with 5 billion 19 million dollars, Germany with 4 billion 921 million dollars, the USA with 3 billion 773 million dollars and 2 billion 264 million dollars. Italy followed. Imports from the first 5 countries covered 38 percent of total imports.
According to the series adjusted for seasonal and calendar effects, exports decreased by 14 percent and imports decreased by 2.9 percent in March compared to the previous month. According to the calendar adjusted series, exports decreased by 20.3 percent in March compared to the same month of the previous year, while imports increased by 0.3 percent.
On the other hand, the share of high technology products in manufacturing industry product exports was recorded as 3.6 percent in March and 3.3 percent in the January-March period.
The share of manufacturing industry products in total imports was calculated as 80.3 percent in March, and 78 percent in the January-March period. The share of high technology products in manufacturing industry product imports was 14.7 percent in March and 13.6 percent in the January-March period.
Private Trading System data
According to the Special Trade System (ÖTS), exports decreased by 18 percent in March compared to the same month of the previous year, reaching 12 billion 676 million dollars, while imports increased by 1.9 percent and reached 17 billion 955 million dollars.
In March, foreign trade deficit increased by 143.8 percent to 5 billion 279 million dollars. While the export-import coverage ratio was 87.7 percent in March 2019, it decreased to 70.6 in this period.
According to ÖTS, exports decreased by 4.2 percent in the January-March period compared to the same period last year, reaching 40 billion 421 million dollars, and imports increased by 9.1 percent, reaching 53 billion 485 million dollars.
In the January-March period, foreign trade deficit increased by 91.7 percent to 13 billion 64 million dollars. While the export-import coverage ratio was 86.1 percent in the January-March period of 2019, it decreased to 75.6 percent in the same period this year.
Source: https://www.aa.com.tr/tr/ekonomi/dis-ticaret-istatistikleri-aciklandi/1823888
