Turkiye's exports increased by 10.3% YoY in Jan 2023; imports by 20.7%

28 Feb '23

2 min read

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Turkiye’s manufacturing industry confidence index decreased by 1 per cent to 102.4, retail trade confidence index fell by 2.4 per cent to 123.1 and consumer confidence index increased by 4.3 per cent to 82.5 in February this year compared to January figures. Exports and imports increased by 10.3 per cent and 20.7 per cent year on year (YoY) respectively in January.

According to provisional data by the Turkish Statistical Institute and the ministry of trade, exports were worth $19.369 billion in January and imports were worth $33.606 billion.

In January, foreign trade deficit was $14.237 billion with a 38.4 per cent increase YoY. Manufacturing industry products comprised 93.6 per cent of total exports during the month.

The main partner country for exports during the month was Germany, with a value of $1.826 billion. It was followed by the United States ($1.186 billion), Russia ($1.43 billion), the United Kingdom ($954 million and Italy ($916 million). Exports to these five countries comprised 30.6 per cent of total exports in January.

The top country for Turkiye's imports was Russia ($5.1 billion). It was followed by Switzerland ($4.337 billion), China ($3.557 billion), Germany ($1.807 billion), the United States ($1.229 billion). Imports from these five countries comprised 47.4 per cent of total imports in January.

Fibre2Fashion News Desk (DS)

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