Foreign trade deficit decreased to $5 billion in September

According to temporary foreign trade data prepared within the scope of the general trade system in cooperation with the Turkish Statistical Institute and the Ministry of Commerce; In September 2023, exports decreased 0.5 percent compared to the same month of the previous year, reaching 22,490 million dollars, and imports decreased 14.6 percent, reaching 27,501 million dollars.

According to the general trading system, exports decreased 0.5 percent in the January-September 2023 period compared to the same period of the previous year, reaching 187,204 million dollars, and imports increased 1.2 percent, reaching 274 thousand 432 million dollars. .

Exports, excluding energy products and non-monetary gold, decreased by 2.3 percent in September 2023, from $20.746 billion to $20.26 billion.

In September, imports, excluding energy products and non-monetary gold, decreased by 1.5 percent, from $20 billion 598 million to $20 billion 280 million.

The foreign trade deficit, excluding energy products and non-monetary gold, amounted to $19 million in September. The volume of foreign trade decreased by 1.9 percent and reached 40.54 billion dollars. In the month in question, the ratio between exports and imports, excluding energy and gold, was 99.9 percent.

DECREASE OF 47.8 PERCENT IN THE FOREIGN TRADE DEFICIT

In September, the foreign trade deficit decreased by 47.8 percent compared to the same month of the previous year, going from 9,607 million dollars to 5,120 million dollars. While the export-import coverage ratio was 70.2 percent in September 2022, it increased to 81.8 percent in September 2023.

In the January-September period, the foreign trade deficit increased by 4.9 percent, from 83,142 million dollars to 87,228 million dollars. While the export and import coverage ratio was 69.3 percent in the January-September 2022 period, it decreased to 68.2 percent in the same period of 2023.

THE PARTICIPATION OF THE INDUSTRY IN EXPORTS IS 94.1 PERCENT

According to economic activities, the participation of the manufacturing industry in exports in September 2023 was 94.1 percent, the participation of the agricultural, forestry and fishing sector was 4.0 percent and the participation of the mining and quarrying sector was 1.4 percent.

According to economic activities in the January-September period, the participation of the manufacturing industry in exports was 94.5 percent, the participation of the agricultural, forestry and fishing sector was 3.5 percent and the participation of the mines and quarries was 1.5 percent.

According to the classification of large economic groups, the share of intermediate goods in imports was 71.3 percent, the share of capital goods was 14.9 percent and the share of consumer goods was 13. .7 percent in September 2023.

In imports, the proportion of intermediate goods was 73.5 percent, the proportion of capital goods was 13.9 percent and the proportion of consumer goods was 12.5 percent in the January-September period of 2023.

GERMANY IS FIRST IN EXPORTS

Germany ranked first in exports in September. Although exports to Germany amounted to 1,746 million dollars, these countries are; The United States followed with $1 billion, Iraq with $1 billion, Italy with $1 billion and the United Kingdom with $1 billion. Exports to the top five countries constituted 28.1 percent of total exports.

Germany ranked first in exports in the January-September period. Although exports to Germany amounted to 15,904 million dollars, these countries are; They were followed by the United States with 11,070 million dollars, Italy with 9,156 million dollars, the United Kingdom with 9,087 million dollars and Iraq with 8,933 million dollars. Exports to the top five countries constituted 28.9 percent of total exports.

FIRST IN IMPORTS: CHINA

China ranked first in imports. Although imports from China amounted to 3,728 million dollars in September, these countries are; They were followed by the Russian Federation with 3,134 million dollars, Germany with 2,357 million dollars, the United States with 1,249 million dollars and the United Arab Emirates with 1,175 million dollars. Imports from the top five countries constituted 42.3 percent of total imports.

In the January-September period, the Russian Federation ranked first in imports. Although imports from the Russian Federation amounted to 34,705 million dollars, these countries are; They were followed by China with 34,397 million dollars, Germany with 21,190 million dollars, Switzerland with 16,563 million dollars and the United States with 11,840 million dollars. Imports from the top five countries constituted 43.3 percent of total imports.

According to the series free of seasonal and calendar effects; In September 2023, exports increased by 1.7 percent compared to the previous month, while imports decreased by 6.5 percent. According to the corrected series of calendar effects; In September 2023, exports increased by 2.0 percent compared to the same month last year, while imports decreased by 12.7 percent.

The share of high-tech products in exports of manufacturing industry products was 4.1 percent in September and 3.6 percent in the January-September period.