Foreign trade deficit increased to 14.2 billion dollars in January

The Turkish Statistical Institute (TUIK) announced the foreign trade statistics for January 2023.

Thus, in January 2023, exports increased 10.3 percent compared to the same month of the previous year and reached 19 thousand 369 million dollars, while imports increased 20.7 percent and reached 33 thousand 606 million dollars. .

In January, the foreign trade deficit increased 38.4 percent compared to the same month of the previous year, reaching a record level of 10,290 million dollars to 14,237 million dollars.

EXPORTS EXCLUDING ENERGY AND GOLD INCREASE 8.4 PERCENT

Exports, excluding energy products and non-monetary gold, increased 8.4 percent in January 2023 from $16.708 billion to $18.105 billion.

In January, imports excluding energy products and non-monetary gold increased 8.1 percent from $18.408 million to $19.891 million.

The foreign trade deficit excluding energy products and non-monetary gold was 1,787 million dollars in January.

The volume of foreign trade increased 8.2 percent and reached 37 thousand 996 million dollars. In said month, the export/import ratio, excluding energy and gold, was 91.0 percent.

MOST EXPORTS TO GERMANY

Germany ranked first in exports in January.

While exports to Germany amounted to 1 billion 826 million dollars, this country, respectively; USA with 1 trillion 186 million dollars, Russian Federation with 1 trillion 43 million dollars, United Kingdom with 954 million dollars and Italy with 916 million dollars.

Exports to the first 5 countries accounted for 30.6 percent of total exports.

RUSSIA IS THE FIRST RANK IN IMPORTS

The Russian Federation ranked first in imports.

While the import from the Russian Federation was 5 billion 1 million dollars in January, this country is respectively; Switzerland with 4 thousand 337 million dollars, China with 3 thousand 557 million dollars, Germany with 1 thousand 807 million dollars and the United States with 1 thousand 229 million dollars.

Imports from the first 5 countries constituted 47.4 percent of total imports.

SEASONALLY ADJUSTED EXPORTS DECREASED 4.2 PERCENT

According to the series corrected for seasonality and calendar; In January 2023, exports decreased by 4.2 percent compared to the previous month, while imports increased by 10.7 percent.

According to the corrected calendar series; In January 2023, exports increased by 7.3 percent and imports by 18.1 percent compared to the same month of the previous year.

PERCENTAGE OF HIGH-TECH PRODUCTS 3.1 PERCENT

In January, the share of manufacturing industry products in total exports was 93.6 percent.

The share of high-tech products in exports of manufacturing industry products was limited to 3.1 percent.

In January, the share of manufacturing industry products in total imports was 73.6 percent; The share of high-tech products in the import of manufacturing industry products was 10 percent.