Foreign trade deficit increased 42.1 percent in April

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

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 April 2023, exports decreased 17.1 percent compared to the same month of the previous year and amounted to 19,331 million dollars, while imports decreased 4.8 percent to 28,69 million dollars.

According to the general trade system, in the period January-April 2023, exports decreased 3.0 percent compared to the same period of the previous year and amounted to 80 thousand 869 million dollars, while imports increased 7.1 percent to 124 thousand 313 million. Dollars

Exports, excluding energy products and non-monetary gold, decreased 17.2 percent in April 2023 from 21.807 million dollars to 18.50 million dollars.

In April, imports excluding energy products and non-monetary gold increased 3.0 percent from 21.219 billion dollars to 21.865 billion dollars.

The foreign trade deficit excluding energy products and non-monetary gold was 3.815 billion dollars in April. The volume of foreign trade decreased 7.2 percent and amounted to 39 thousand 914 million dollars. In said month, the export/import ratio, excluding energy and gold, was 82.6 percent.

THE FOREIGN TRADE DEFICIT INCREASED 42.1 PERCENT

In April, the foreign trade deficit increased 42.1 percent compared to the same month of the previous year and went from 6 thousand 147 million dollars to 8 thousand 738 million dollars. While the export-import ratio was 79.1% in April 2022, it decreased to 68.9% in April 2023.

In the January-April period, the foreign trade deficit increased 32.9 percent, going from 32 thousand 684 million dollars to 43 thousand 444 million dollars. While the export to import ratio was 71.8 percent in the January-April 2022 period, it decreased to 65.1 percent in the same period in 2023.

According to economic activities, in April 2023, the participation of the manufacturing industry was 94.8 percent, the participation of the agricultural, forestry and fishing sector was 3.1 percent, and the participation of the mining and extraction sector was 1.6 percent.

According to the economic activities in the period January-April, the participation of the manufacturing industry in exports was 94.5 percent, the participation of the agricultural, forestry and fishing sector was 3.6 percent, and the participation of the sector of mining and extraction was 1.5 percent.

According to the classification of broad economic groups, in April 2023, the share of intermediate goods was 73.2 percent, the share of capital goods was 13.9 percent, and the share of retail goods. consumption was 12.9 percent.

In the period January-April 2023, the share of intermediate goods was 76.0 percent, the share of capital goods was 12.8 percent, and the share of consumer goods was 11.1 percent.

GERMANY MOST EXPORTED COUNTRY

Germany ranked first in exports in April. While exports to Germany amounted to 1 billion 590 million dollars; They are followed by the US with 1,163 million dollars, Iraq with 970 million dollars, Italy with 954 million dollars and the United Kingdom with 945 million dollars. Exports to the first 5 countries accounted for 29.1 percent of total exports.

Germany ranked first in exports in the January-April period. While the export to Germany is 7 thousand 115 million dollars, this country is respectively; They are followed by the US with 4,751 million dollars, Italy with 4,177 million dollars, the Russian Federation with 3,943 million dollars and the United Kingdom with 3,878 million dollars. Exports to the first 5 countries accounted for 29.5 percent of total exports.

The Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 4 thousand 177 million dollars in April, this country is respectively; China with 3 thousand 691 million dollars, Germany with 2 thousand 175 million dollars, Italy with 1 thousand 153 million dollars and the United States with 1 thousand 117 million dollars. Imports from the first 5 countries constituted 43.9 percent of total imports.

RUSSIA TAKES THE FIRST RANK IN IMPORTS

In the January-April period, the Russian Federation ranked first in imports. While imports from the Russian Federation amounted to 17 thousand 253 million dollars, respectively; China with 14 thousand 136 million dollars, Switzerland with 9 thousand 482 million dollars, Germany with 8 thousand 757 million dollars and the United States with 4 thousand 821 million dollars. Imports from the first 5 countries constituted 43.8 percent of total imports.

According to the series corrected for seasonality and calendar; In April 2023, exports decreased by 4.5 percent and imports by 1.0 percent compared to the previous month. According to the corrected calendar series; In April 2023, exports decreased 9.6 percent compared to the same month of the previous year, while imports increased 1.1 percent.

PARTICIPATION OF HIGH TECHNOLOGY IN THE EXPORTS OF THE MANUFACTURING INDUSTRY

Foreign trade data by technological intensity cover the products of the manufacturing industry included in the ISIC Rev.4 classification. According to ISIC Rev.4 of April, the share of manufacturing industry products in total exports was 94.8 percent. The share of high-tech products in the export of manufacturing industry products is 4.0 percent. According to ISIC Rev.4, the share of manufacturing industry products in total exports in the January-April period is 94.5 percent. In the January-April period, the participation of high technology products in the export of manufacturing industry products was 3.7 percent.

In April, the share of manufacturing industry products in total imports was 80.0 percent. The share of high-tech products in the import of manufacturing industry products is 10.7 percent. In the January-April period, the share of manufacturing industry products in total imports was 77.4 percent. In the January-April period, the share of high-tech products in imports of manufacturing industry products was 10.3 percent.

According to the special trade regime, in April 2023 exports decreased 19.6 percent compared to the same month of the previous year and amounted to 17 thousand 706 million dollars, while imports decreased 10.1 percent and amounted to 25 one thousand 888 million dollars.

In April, the foreign trade deficit increased 20.6 percent, from 6,782 million dollars to 8,182 million dollars. While the export-import ratio was 76.5% in April 2022, it decreased to 68.4% in April 2023.

In accordance with the special trade regime, in the period January-April 2023, exports decreased 6.1 percent compared to the same period of the previous year and amounted to 73 thousand 829 million dollars, while imports increased 4.6 percent to 116 thousand 948 million. Dollars

In the January-April period, the foreign trade deficit increased 30.2 percent, going from 33 thousand 127 million dollars to 43 thousand 120 million dollars. While the ratio of exports to imports was 70.4 percent in the January-April 2022 period, it decreased to 63.1 percent in the same period of 2023.