Foreign trade deficit increased to 8.3 billion dollars in March

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

Thus, in March 2023, exports increased 4.4 percent compared to the same month of the previous year and reached 23 thousand 595 million dollars, while imports increased 3.4 percent and reached 31 thousand 936 million dollars. .

In the period January-March 2023, exports increased 2.5 percent compared to the same period of the previous year and reached 61,558 million dollars, while imports increased 11.1 percent to 96,250 million dollars. .

In March, the foreign trade deficit increased 0.9 percent compared to the same month of the previous year and went from 8 thousand 267 million dollars to 8 thousand 341 million dollars.

In the January-March period, the foreign trade deficit increased 30.7 percent, going from 26 thousand 537 million dollars to 34 thousand 692 million dollars.

EXPORTS EXCLUDING ENERGY AND GOLD INCREASE 3.7 PERCENT

Exports, excluding energy products and non-monetary gold, increased 3.7 percent in March 2023 from $21.201 billion to $21.977 billion.

In March, imports excluding energy products and non-monetary gold increased 14.2 percent from $21.427 million to $24.462 million.

The foreign trade deficit without energy products and non-monetary gold was 2,485 million dollars in March.

The volume of foreign trade increased 8.9 percent and reached 46 thousand 439 million dollars. In said month, the export/import ratio, excluding energy and gold, was 89.8 percent.

PARTICIPATION OF THE MANUFACTURING INDUSTRY IN EXPORTS 95 PERCENT

According to economic activities, the share of the manufacturing industry in March 2023 was 94.9 percent, the share of the agriculture, forestry and fisheries sector was 3.3 percent, and the share of the mining and extraction was 1.3 percent.

According to the economic activities in the period January-March, the participation of the manufacturing industry in exports was 94.4 percent, the participation of the agricultural, forestry and fishing sector was 3.7 percent, and the participation from the mining and extraction sector was 1.4 percent.

GERMANY IN THE FIRST PLACE IN EXPORTS

Germany ranked first in exports in March.

While exports to Germany are 2 thousand 6 million dollars, this country is respectively; It is followed by the USA with 1 trillion 384 million dollars, Italy with 1 trillion 191 million dollars, the United Kingdom with 1 trillion 130 million dollars and Iraq with 1 trillion 112 million dollars.

Exports to the first 5 countries accounted for 28.9 percent of total exports.

Germany ranked first in exports in the January-March period.

While exports to Germany amounted to 5 thousand 528 million dollars; It is followed by the US with 3,656 million dollars, Italy with 3,223 million dollars, the Russian Federation with 3,102 million dollars and the United Kingdom with 2,933 million dollars.

Exports to the first 5 countries accounted for 30 percent of total exports.

RUSSIA IS THE FIRST RANK IN IMPORTS

The Russian Federation ranked first in imports.

While imports from the Russian Federation amounted to 3 thousand 863 million dollars in March, this country is respectively; China with 3 thousand 787 million dollars, Germany with 2 thousand 694 million dollars, the United States with 1 thousand 408 million dollars and Italy with 1 thousand 393 million dollars.

Imports from the first 5 countries constituted 41.2 percent of total imports.

In the January-March period, the Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 13 thousand 77 million dollars, respectively; China with 10 thousand 444 million dollars, Switzerland with 9 thousand 164 million dollars, Germany with 6 thousand 582 million dollars and the United States with 3 thousand 702 million dollars.

Imports from the first 5 countries constituted 44.6 percent of total imports.