Foreign trade deficit increased to 12.1 billion dollars in February

According to temporary foreign trade data produced within the scope of the general trading system in cooperation with the Turkish Statistical Institute and the Ministry of Commerce; In February 2023, exports decreased 6.4 percent compared to the same month of the previous year and amounted to 18,635 million dollars, while imports increased 10.1 percent to 30,714 million dollars.

According to the general trade system, in the period January-February 2023, exports increased 1.4 percent compared to the same period of the previous year and reached 37 thousand 992 million dollars, while imports increased 15.4 percent to 64 thousand 320 million dollars. .

Exports, excluding energy products and non-monetary gold, decreased 7.9 percent in February 2023 from 19.15 million dollars to 17.520 million dollars.

In February, imports excluding energy products and non-monetary gold increased 1.5 percent from $19.69 billion to $19.982 billion.

The foreign trade deficit excluding energy products and non-monetary gold was 2,462 million dollars in February. The volume of foreign trade decreased 3.1% and amounted to 37 thousand 502 million dollars. In said month, the export/import ratio, excluding energy and gold, was 87.7 percent.

OPEN INCREASED 51.4 PERCENT IN FEBRUARY

In February, the foreign trade deficit increased 51.4 percent compared to the same month of the previous year and went from 7.98 billion dollars to 12.79 billion dollars. While the export-import ratio was 71.4% in February 2022, it decreased to 60.7% in February 2023.

In the January-February period, the foreign trade deficit increased 44.1 percent, going from 18 thousand 270 million dollars to 26 thousand 328 million dollars. While the export to import ratio was 67.2 percent in the January-February 2022 period, it decreased to 59.1 percent in the same period in 2023.

According to economic activities, the share of the manufacturing industry in February 2023 was 94.4 percent, the share of the agriculture, forestry and fisheries sector was 3.7 percent, and the share of the mining and extraction was 1.5 percent.

In the January-February period, the participation of the manufacturing industry in exports was 94.0 percent, the participation of the agricultural, forestry and fishing sector was 3.9 percent, and the participation of the mining and extractive sector was of 1.5 percent, according to economic activities.

According to the classification of broad economic groups, in February 2023, the share of intermediate goods was 77.3 percent, the share of capital goods was 11.5 percent, and the share of consumer goods was 11.0 percent.

In the period January-February 2023, the share of intermediate goods was 78.8 percent, the share of capital goods was 11.2 percent, and the share of consumer goods was 9.8 percent.

GERMANY IS FIRST IN EXPORTS

Germany ranked first in exports in February. While exports to Germany amounted to 1 billion 697 million dollars, this country, respectively; Italy with 1.119 million dollars, the United States with 1.86 million dollars, the Russian Federation with 1.13 million dollars and the United Kingdom with 851 million dollars. Exports to the first 5 countries accounted for 30.9 percent of total exports.

Germany ranked first in exports in the January-February period. While the export to Germany is 3 thousand 523 million dollars, this country is respectively; It is followed by the US with 2.269 billion dollars, the Russian Federation with 2.55 billion dollars, Italy with 2.34 billion dollars and the United Kingdom with 1.804 billion dollars. Exports to the first 5 countries accounted for 30.8 percent of total exports.

RUSSIA IS FIRST IN IMPORT

The Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 4 thousand 214 million dollars in February; Switzerland with 3 thousand 526 million dollars, China with 3 thousand 103 million dollars, Germany with 2 thousand 80 million dollars and Italy with 1 thousand 163 million dollars. Imports from the first 5 countries constituted 45.9 percent of total imports.

In the January-February period, the Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 9 thousand 216 million dollars, respectively; Switzerland with 7 thousand 863 million dollars, China with 6 thousand 660 million dollars, Germany with 3 thousand 888 million dollars and the United States with 2 thousand 296 million dollars. Imports from the first 5 countries constituted 46.5 percent of total imports.

SHARE OF HIGH TECHNOLOGY IN EXPORTS 3.6 PERCENT

The share of high technology products in exports of manufacturing industry products was 3.6 percent in February and 3.3 percent in the January-February period.

The share of high technology products in imports of manufacturing industry products was 9.9 percent in February and in the January-February period.