The terms of foreign trade increased in May

The export unit value index decreased 1.2 percent and the import unit value index decreased 13 percent in May compared with the same month a year earlier.

Turkish Institute of Statistics (TUIK) announced the foreign trade indices for the month of May.

Consequently, the unit value index of exports decreased 1.2 percent in May compared to the same month of the previous year. Compared with the same month of the previous year, the index increased 6.6 percent in food, beverages and tobacco and 2.5 percent in manufacturing (excluding food, beverages, tobacco), while it decreased 11.8 percent. percent in raw materials (excluding fuel) and 38.2 percent in fuels.

The export quantity index rose 15.8 percent in May compared with the same month a year earlier. Compared to the same month of the previous year, the index revalued 14.6 percent in food, beverages, and tobacco, 6.5 percent in raw materials (without fuel), 47.5 percent in fuels, and 13.4 percent in the manufacturing industry (excluding food, beverages and tobacco). .

DECREASED IMPORT UNIT VALUE INDEX

The unit value index of imports decreased 13 percent in May compared to the same month of the previous year. Compared to the same month of the previous year, the index decreased 10.8 percent in food, beverages, and tobacco, 26.2 percent in raw materials (without fuel), 32.7 percent in fuels, and 7.1 percent in the manufacturing industry (excluding food, beverages and tobacco).

The import quantity index gained 32.7 percent in May compared to the same month of the previous year. Compared to the same month of the previous year, the index increased 80.8 percent in food, beverages, and tobacco, 3.6 percent in raw materials (excluding fuel), 13.9 percent in fuels, and 38.6 percent in the manufacturing industry (without food). , drinks and tobacco).

INCREASE IN THE FOREIGN TRADE LIMIT

According to the seasonally adjusted and calendar series, the imported quantity index, which was 133.2 in April, increased 0.3 percent to 133.6 in May. According to the adjusted calendar series, the imported quantity index, which was 120 in May 2022, increased 16.7 percent and reached 140 in May 2023.

According to the series corrected for seasonality and calendar; The import quantity index, which was 133.2 in April, rose 0.3 percent to 133.6 in May this year. According to the corrected calendar series, the imported quantity index, which in May of last year was 120, increased 16.7 percent and reached 140 in the same month this year.

The terms of trade, which were calculated by dividing the export unit value index by the import unit value index and obtained 76.4 in May 2022, rose 10.4 points to 86.8 in May this year.