Foreign trade deficit in June increased by 184.5 percent to 8 billion 167 million dollars

Foreign trade data announced. According to the provisional foreign trade analysis produced within the scope of the general trade system in cooperation with the Turkish Statistical Institute (TUIK) and the Ministry of Commerce; exports increased by 18.7 percent in June 2022 compared to the same month of the previous year and reached 23 billion 428 million dollars, while imports increased by 39.7 percent to 31 billion 595 million dollars.

According to the provisional foreign trade figures produced within the scope of the general trade system in cooperation with the Turkish Statistical Institute (TUIK) and the Ministry of Commerce, exports increased by 18.7 percent in June 2022 compared to the same month of the previous year to 23 billion 428 million dollars, while imports increased by 39.7 percent to 31 billion 595 million dollars. Exports excluding energy products and non-monetary gold increased by 15.7 percent in June 2022, from 18 billion 895 million dollars to 21 billion 856 million dollars. Last June, imports excluding energy products and non-monetary gold increased by 19.4 percent from 18 billion 646 million dollars to 22 billion 272 million dollars. Foreign trade deficit excluding energy products and non-monetary gold was realized as 416 million dollars in June. Foreign trade volume increased by 17.5 percent to 44 billion 128 million dollars. In the month in question, the ratio of exports to imports excluding energy and gold was stated as 98.1 percent. In June, foreign trade deficit increased by 184.5 percent compared to the same month of the previous year and rose from 2 billion 871 million dollars to 8 billion 167 million dollars. While the ratio of exports to imports was 87.3 percent in June 2021, it decreased to 74.1 percent in June 2022. In the first six months, the foreign trade deficit increased by 142.7 percent, from 21 billion 181 million dollars to 51 billion 400 million dollars. While the ratio of exports to imports was 83.2 percent in the January-June period of 2021, it decreased to 71.0 percent in the same period of 2022. In exports by economic activities, the share of manufacturing industry was 94.9 percent, the share of agriculture, forestry and fishing sector was 2.9 percent, and the share of mining and quarrying sector was 1.7 percent in June 2022. In the first six months, according to economic activities, the share of manufacturing industry in exports was 94.6 percent, the share of agriculture, forestry and fishing sector was 3.1 percent, and the share of mining and quarrying sector was 1.8 percent. In imports within broad economic groups, in June 2022, the share of intermediate goods was 81.5 percent, the share of capital goods was 10.1 percent and the share of consumer goods was 8.4 percent. In the January-June period of 2022, the share of intermediate goods in imports was 82.1 percent, the share of capital goods was 10.3 percent and the share of consumer goods was 7.5 percent. Germany took the leading position in exports in June.  Exports to Germany amounted to 1 billion 875 million dollars, followed by the USA with 1 billion 555 million dollars, the United Kingdom with 1 billion 209 million dollars, Iraq with 1 billion 206 million dollars and Italy with 1 billion 150 million dollars. Exports to the first 5 countries accounted for 29.9 percent of total exports. In the first six months of the year, Germany ranked first in exports. Exports to Germany amounted to 10 billion 642 million dollars, followed by the USA with 8 billion 658 million dollars, Italy with 6 billion 612 million dollars, the United Kingdom with 6 billion 489 million dollars and Iraq with 6 billion 362 million dollars. Exports to the first 5 countries accounted for 30.8 percent of total exports.