Turkey’s exports increased by 15.7 percent in June compared to the same month last year

Turkey’s exports increased by 15.7 percent in June compared to the same month of the previous year, reaching 13 billion 462 million dollars, and its imports increased by 8.3 percent, reaching 16 billion 308 million dollars.

Provisional foreign trade data for June, prepared 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 increased by 15.7 percent in June compared to the same month of the previous year and reached 13 billion 462 million dollars, while imports increased by 8.3 percent and reached 16 billion 308 million dollars.

Foreign trade deficit decreased by 17 percent in June to 2 billion 846 million dollars. The export-import coverage ratio increased from 77.2 percent in June 2019 to 82.6 percent.

In the January-June period, exports decreased by 15.1 percent compared to the same period last year, falling to 75 billion 21 million dollars, and imports decreased by 3.2 percent to 98 billion 895 million dollars.

Foreign trade deficit increased by 73.2 percent in the January-June period, reaching 23 billion 874 million dollars. While the export-import coverage ratio was 86.5 percent in January-June 2019, it decreased to 75.9 percent in the same period this year.

The share of the manufacturing industry is 94.5 percent

Accordingly, when economic activities are examined, the share of the manufacturing industry in exports in June was 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 economic activities in the January-June period, the share of the manufacturing industry in exports was calculated as 94.2 percent, the share of the agriculture, forestry and fishing sector was 3.6 percent, and the share of the mining and quarrying sector was 1.7 percent.

According to the classification of broad economic groups, the share of intermediate goods in imports was recorded as 73.7 percent, the share of capital goods was 14.7 percent and the share of consumer goods was 11.4 percent in June.

In the January-June period, the share of intermediate goods was 75.7 percent, the share of capital goods was 13.7 percent and the share of consumer goods was 10.3 percent.

Germany ranks first in exports, China ranks first in imports

While Germany ranked first among the export countries in the month in question, 1 billion 290 million dollars were exported to this country.

Germany was followed by the United Kingdom with 1 billion 12 million dollars, the USA with 790 million dollars, Iraq with 701 million dollars, and Italy with 628 million dollars. Exports to the top 5 countries constituted 32.8 percent of total exports.

Germany ranked first in exports in the January-June period. While exports to Germany were 7 billion 102 million dollars, this country was followed by the USA with 4 billion 619 million dollars, the United Kingdom with 4 billion 455 million dollars, Iraq with 4 billion 74 million dollars and Italy with 3 billion 602 million dollars. Exports to the first 5 countries corresponded to 31.8 percent of total exports.

China ranked first in imports last month. While imports from China amounted to 1 billion 935 million dollars in June, this country was followed by Germany with 1 billion 527 million dollars, Russia with 1 billion 183 million dollars, Iraq with 907 million dollars and the USA with 779 million dollars. Imports from the first 5 countries constituted 38.8 percent of total imports.

China ranked first in imports in the January-June period. During this period, imports from China were 10 billion 376 million dollars, followed by Germany with 9 billion 113 million dollars, Russia with 8 billion 731 million dollars, the USA with 6 billion 61 million dollars and Italy with 3 billion 856 million dollars. Imports from the first 5 countries covered 38.6 percent of total imports.

According to the series adjusted for seasonal and calendar effects, exports increased by 15.3 percent and imports increased by 8.9 percent in June compared to the previous month. According to the series adjusted for calendar effects, exports decreased by 6.4 percent and imports decreased by 9.3 percent in June compared to the same period last year.

On the other hand, the share of high technology products in manufacturing industry products exports was recorded as 3.2 percent in June and 3.5 percent in the January-June period.

The share of manufacturing industry products in total imports was calculated as 84.8 percent in June, and 80 percent in the January-June period. The share of high technology products in imports of manufacturing industry products was 12 percent in June and 13.4 percent in the January-June period.

Private Trading System data

According to the Special Trade System (ÖTS), exports increased by 15.2 percent in June compared to the same month last year, reaching 12 billion 745 million dollars, and imports increased by 11.1 percent, reaching 15 billion 835 million dollars.

In June, the foreign trade deficit decreased by 3.1 percent to 3 billion 91 million dollars. While the export-import coverage ratio was 77.6 percent in June 2019, it increased to 80.5 percent in this period.

According to ÖTS, exports decreased by 15.3 percent to 70 billion 893 million dollars in the January-June period compared to the same period last year, and imports decreased by 4.1 percent to 94 billion 527 million dollars.

In the January-June period, foreign trade deficit increased by 58.8 percent to 23 billion 633 million dollars. While the export-import coverage ratio was 84.9 percent in the January-June period last year, it dropped to 75 percent in the same period this year.

Source: https://www.aa.com.tr/tr/ekonomi/turkiyenin-ihracati-haziranda-gecen-yilin-ayni-ayina-gore-yuzde-15-7-artti/1925771

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