Turkey's Export Data Released

Turkey's Export Data Released Provisional foreign trade data for December of the previous year and the full year 2022 were released in cooperation with the Ministry of Commerce and the Turkish Statistical Institute. Accordingly, under the General Trade System (GTS), exports in December 2022 increased by 3 percent compared to the same month of the previous year to USD 22.910 billion, while imports rose by 12.2 percent to USD 32.612 billion. The foreign trade deficit in December 2022 increased by 42 percent on an annual basis to USD 9.701 billion. The ratio of exports to imports, which was 76.5 percent in December 2021, fell to 70.3 percent in the previous month. For the January-December 2022 period, exports increased by 12.9 percent compared to the same period of the previous year to reach USD 254.172 billion, while imports rose by 34 percent to USD 363.711 billion. The foreign trade deficit rose by 137 percent last year to USD 109.539 billion. The ratio of exports to imports, which was 83 percent in 2021, declined to 69.9 percent last year.

Foreign trade excluding energy and gold

Last month, exports excluding energy products and non-monetary gold increased by 2.7 percent to USD 21.437 billion, while imports rose by 0.5 percent to USD 21.704 billion. The foreign trade deficit excluding energy products and non-monetary gold in December 2022 was USD 267 million. Foreign trade volume increased by 1.6 percent to reach USD 43.142 billion. In the month in question, the ratio of exports to imports excluding energy and gold was 98.8 percent.

Manufacturing industry's share in exports last year calculated at 94.6 percent

  Accordingly, when economic activities were examined, the manufacturing industry's share in exports last month was 93.8 percent, agriculture, forestry and fishing sector's share was 3.9 percent, and mining and quarrying sector's share was 1.8 percent. Last year, according to economic activities, the manufacturing industry's share in exports was 94.6 percent, agriculture, forestry and fishing sector's share was 3.1 percent, and mining and quarrying sector's share was 1.8 percent. According to the broad economic groups classification in imports, intermediate goods' share in December 2022 was 75.8 percent, capital goods' share was 13.8 percent and consumer goods' share was 10.3 percent. For the full year 2022, intermediate goods' share was 80.4 percent, capital goods' share was 11.1 percent and consumer goods' share was 8.4 percent.

Germany leads in exports, Russia in imports

Among countries to which exports were made in December of last year, Germany ranked first with USD 1.807 billion. This country was followed by the United States with USD 1.381 billion, Russia with USD 1.313 billion, Iraq with USD 1.149 billion, and the United Kingdom with USD 1.066 billion. Exports to the top 5 countries represented 29.3 percent of total exports. Germany also ranked first in exports for the full year 2022. Exports to Germany amounted to USD 21.145 billion, followed by the United States with USD 16.882 billion, Iraq with USD 13.751 billion, the United Kingdom with USD 13.011 billion, and Italy with USD 12.354 billion. Exports to the top 5 countries corresponded to 30.4 percent of total exports. Russia ranked first in imports last month. Imports from Russia amounted to USD 4.546 billion, followed by China with USD 3.642 billion, Germany with USD 2.469 billion, Switzerland with USD 2.462 billion, and Italy with USD 1.409 billion. Imports from the top 5 countries represented 44.5 percent of total imports. During the January-December period, Russia also ranked first in imports. Imports from Russia amounted to USD 58.853 billion, followed by China with USD 41.354 billion, Germany with USD 24.033 billion, Switzerland with USD 15.335 billion, and the United States with USD 15.229 billion. Imports from the top 5 countries corresponded to 42.6 percent of total imports. According to the series adjusted for seasonal and calendar effects, in December 2022 exports increased by 6 percent and imports by 4.3 percent compared to the previous month. According to the series adjusted for calendar effects, last month exports increased by 5.8 percent and imports by 15.1 percent compared to the same month of the previous year. On the other hand, the share of high-technology products in manufacturing industry product exports was 4.3 percent in December 2022 and 3.1 percent in the January-December 2022 period. The share of manufacturing industry products in total imports last month was 75.8 percent. The share of high-technology products in manufacturing industry product imports was 10.5 percent. During the January-December period, the share of manufacturing industry products in total imports was 71.8 percent, and the share of high-technology products in manufacturing industry product imports during the same period was 9.8 percent.

Special Trade System data

According to the Special Trade System (STS), exports in December 2022 decreased by 1.6 percent compared to the same month of the previous year to USD 20.793 billion, while imports increased by 12.2 percent to USD 30.750 billion. Last month the foreign trade deficit increased by 58.3 percent to USD 9.956 billion. The ratio of exports to imports, which was 77.1 percent in December 2021, declined to 67.6 percent in December 2022. According to STS, exports in 2022 increased by 10.1 percent compared to the previous year to USD 235.236 billion, while imports increased by 31.3 percent to USD 342.213 billion. The foreign trade deficit last year increased by 127.2 percent to USD 106.977 billion. The ratio of exports to imports, which was 81.9 percent in the January-December 2021 period, declined to 68.7 percent in the same period of 2022. Source (AA)