Foreign trade terms increased in September

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

According to data announced by TUIK, the terms of foreign trade, calculated by dividing the index of the unit value of exports by the index of the unit value of imports, were 86.3 in September.

Although the index increased compared to the same period of the previous year, it decreased compared to August. In August, the terms of foreign trade were announced at 86.8.

EXPORT INDICES

The export unit value index decreased 1.2 percent in September compared to the same month a year earlier. Compared to the same month last year, the index decreased by 0.7 percent in food, beverages and tobacco, decreased by 12.4 percent in raw materials (excluding fuel), decreased by 11.2 percent in fuel , decreased 0 percent in the manufacturing industry. (excluding food, beverages and tobacco) increased by 3.

The export quantity index increased 0.7 percent in September compared with the same month a year earlier. The index increased by 6.6 percent in food, beverages and tobacco compared to the same month of the previous year, 14.1 percent in raw materials (excluding fuels), 13.5 percent in fuels , 4 percent in manufacturing (excluding food, beverages and tobacco), decreased by 2.

Exported quantity index according to the series corrected for seasonal and calendar effects; While it was 154.4 in August 2023, it increased by 3.1 percent to 159.2 in September 2023. According to the calendar effects corrected series, the exportable quantity index is; While it was 156.5 in September 2022, it increased by 4.8 percent to 164.0 in September 2023.

IMPORT INDICES

The import unit value index decreased 17.1 percent in September compared to the same month a year earlier. Compared to the same month last year, the index decreased 8.4 percent in food, beverages and tobacco, decreased 43.4 percent in fuel, decreased 18.0 percent in raw materials (excluding fuel) and decreased 5 percent in the manufacturing sector. Industry (excluding food, beverages and tobacco) decreased by 0.6.

The import quantity index increased 3.1 percent in September compared with the same month a year earlier. Compared to the same month last year, the index decreased by 11.2 percent in food, beverages and tobacco, decreased by 15.4 percent in raw materials (excluding fuel), increased by 12.3 percent in fuel and increased 7 percent in the manufacturing sector. Industry (excluding food, beverages and tobacco) increased by 0.7.

Import quantity index according to the series corrected for seasonal and calendar effects; While it was 129.6 in August 2023, it decreased by 2.9% to 125.8 in September 2023. According to the calendar effects corrected series, the imported quantities index is; While it was 114.8 in September 2022, it increased by 6.6% to 122.3 in September 2023.