Foreign trade terms increased in August

The Turkish Statistical Institute (TUIK) announced the foreign trade indices for the period of August 2023.

According to data announced by TÜİK, the terms of foreign trade, calculated by dividing the export unit value index by the import unit value index, increased by 12.6 points in August and reached 86.8.

EXPORT INDICES

The export quantity index increased 3.4 percent in August compared with the same month a year earlier. Compared with the same month of the previous year, the index increased by 9.4 percent in food, beverages and tobacco, decreased by 7.2 percent in raw materials (excluding fuels), increased by 28.3 percent in fuels and decreased 0 percent in the manufacturing sector. industry (excluding food, beverages and tobacco) increased by 3.

Exported quantity index according to the series corrected for seasonal and calendar effects; While it was 147.7 in July 2023, it increased by 4.4 percent to 154.3 in August 2023. According to the calendar effects corrected series, the exportable quantity index is; While it was 142.4 in August 2022, it increased by 3.4 percent to 147.3 in August 2023.

The export unit value index decreased by 1.8 percent in August compared to the same month a year earlier. Compared to the same month last year, the index decreased 1.2 percent in food, beverages and tobacco, decreased 16.0 percent in raw materials (excluding fuel), decreased 19.9 percent in fuel and decreased 0 percent in the manufacturing sector. The industry (excluding food, beverages and tobacco) increased by 8.

IMPORT INDICES

The import quantity index increased 10.9 percent in August compared with the same month a year earlier. Compared with the same month of the previous year, the index increased by 1.1 percent in food, beverages and tobacco, decreased by 20.0 percent in raw materials (excluding fuels), increased by 13.2 percent in fuels and increased 11 percent in the manufacturing sector. industry (excluding food, beverages and tobacco) increased by 0.5.

Import quantity index according to the series corrected for seasonal and calendar effects; While it was 136.8 in July 2023, it decreased by 4.6 percent to 130.5 in August 2023. According to the calendar effects corrected series, the index of imported quantities is; While it was 115.2 percent in August 2022, it increased by 10.9 percent in August 2023 and reached 127.7 percent.

The import unit value index decreased 16.1 percent in August compared with the same month a year earlier. Compared to the same month last year, the index decreased by 10.7 percent in food, beverages and tobacco, decreased by 46.1 percent in fuels, decreased by 16.3 percent in raw materials (excluding fuels) and decreased 4 percent in the manufacturing sector. Industry (excluding food, beverages and tobacco) decreased by 0.4.