Terms of trade increased in June

The export unit value index decreased 1.6 percent in June compared with the same month a year earlier.

The Turkish Statistical Institute (TUIK) announced foreign trade indices for June.

Consequently, the unit value index of exports decreased 1.6 percent in June compared to the same month of the previous year. Compared with the same month of the previous year, the index increased 3.6 percent in food, beverages and tobacco and 1.8 percent in manufacturing (excluding food, beverages, tobacco), while it increased 13.6 percent. percent in raw materials (excluding fuel) and 39.8 percent in fuels.

The export unit value index decreased by 0.7 percent in the second quarter of 2023 compared to the second quarter of the previous year.

The export quantity index decreased 9.2 percent in June compared to the same month a year earlier. Compared with the same month of the previous year, the index decreased 11.4 percent in food, beverages and tobacco, 18.9 percent in raw materials (excluding fuels) and 11.4 percent in manufacturing (excluding food, beverages and tobacco), while in fuels it decreased 22.3 percent.

The export quantity index decreased by 5.1 percent in the second quarter of 2023 compared to the second quarter of the previous year.

DECREASED IMPORT UNIT VALUE INDEX

The unit value index of imports decreased 15.6 percent in June compared to the same month of the previous year. Compared to the same month of the previous year, the index decreased 11.3 percent in food, beverages, and tobacco, 27.6 percent in raw materials (excluding fuel), 39.2 percent in fuels, and 7.3 percent in the manufacturing industry (without food). , drinks, tobacco). .

The import unit value index decreased by 14.7 percent in the second quarter of 2023 compared to the second quarter of the previous year.

According to the series corrected for seasonality and calendar; The export quantity index, which was 143.4 in May 2023, increased by 10.6 percent and became 158.7 in June 2023.

According to the corrected calendar series; The export quantity index, which was 152.4 in June 2022, increased by 4.4 percent, becoming 159.1 in June 2023.

According to the series corrected for seasonal and calendar effects; The import quantity index, which was 132.1 in May 2023, decreased by 5.2 percent and became 125.3 in June 2023.

According to the corrected calendar series; The import quantity index, which was 112.3 in June 2022, increased by 9.8 percent, becoming 123.3 in June 2023.

INCREASED FOREIGN TRADE LIMIT

The terms of foreign trade, which was calculated by dividing the export unit value index by the import unit value index and which was obtained at 76.5 in June 2022, increased 12.8 points to 89.3 in June 2023.

In the second quarter of 2023, the terms of foreign trade increased 12.4 points compared to the same period of the previous year and went to 88.1.