Turkiye’s exports & imports rise by 2.1% YoY, 14% YoY in Nov 2022
During the first 11 months of 2022, foreign trade deficit was $99 billion 805 million with a 153.4 per cent YoY increase. In November 2022, foreign trade deficit was $8 billion 756 million with a 60.7 per cent YoY increase, according to a press release by TurkStat.
In November 2022, according to economic activities, the ratio of manufacturing industries products was 94.2 per cent. In January-November 2022, the ratio of manufacturing industries products was 94.6 per cent.
Turkiye’s exports increased by 2.1 per cent year-on-year (YoY) to $21 billion 900 million and imports by 14.0 per cent YoY to $30 billion 656 million in November 2022, as per the Turkish Statistical Institute (TurkStat) and the ministry of trade. Exports and imports increased by 13.9 per cent YoY and 36.6 per cent YoY, respectively in January-November 2022.
In November 2022, according to the Broad Economic Categories (BEC) classification, the ratios of intermediate goods, capital goods, and consumption goods in total imports were 77.3 per cent, 12.1 per cent, and 10.4 per cent, respectively. In January-November 2022, the ratios of intermediate goods, capital goods, and consumption goods in total imports were 80.9 per cent, 10.9 per cent, and 8.2 per cent, respectively.
In November 2022, Turkiye’s main partner country for exports was Germany with $1 billion 859 million. The country was followed by US with $1 billion 447 million, Iraq with $1 billion 302 million, Russia with $1 billion 156 million, and Italy with $1 billion 78 million. The ratio of the first five countries in total exports was 31.2 per cent in November 2022. In January-November 2022, Turkiye’s main partner country for exports was Germany with $19 billion 339 million. The country was followed by US with $15 billion 502 million, Iraq with $12 billion 602 million, United Kingdom with $11 billion 946 million, and Italy with $11 billion 306 million. The ratio of the first five countries in total exports was 30.6 per cent in January-November 2022.
In November 2022, the top country for Turkiye’s imports was Russia with $4 billion 681 million. The country was followed by China with $3 billion 121 million, Germany with $2 billion 236 million, Switzerland with $2 billion 215 million, and Italy with $1 billion 217 million. The ratio of the first five countries in total imports was 43.9 per cent in November 2022. In January-November 2022, the top country for Turkiye’s imports was Russia with $54 billion 308 million. The country was followed by China with $37 billion 712 million, Germany with $21 billion 564 million, US with $14 billion 45 million, and Switzerland with $12 billion 873 million. The ratio of the first five countries in total imports was 42.4 per cent in January-November 2022.
In November 2022, while seasonally and calendar adjusted exports increased by 0.4 per cent, imports decreased by 0.4 per cent month-on-month (MoM). In November 2022, calendar adjusted exports and imports increased by 2.2 per cent YoY and 14.4 per cent YoY respectively, TurkStat said.
The ratio of manufacturing industries products in total exports was 94.6 per cent in January-November 2022. The ratio of manufacturing industries’ products in total imports was 75.8 per cent.
In November 2022, foreign trade deficit was $8 billion 240 million with a 46.7 per cent YoY increase. In January-November 2022, foreign trade deficit was $96 billion 987 million with a 137.8 per cent YoY increase.
Fibre2Fashion News Desk (NB)
