Turkiye's exports rise by 8.3%, imports by 10.5% in July 2023: Govt

Provisional data by the Turkish Statistical Institute and the ministry of trade show exports were worth $20.78 billion in July, and imports worth $32.295 billion.

Exports fell by 0.7 per cent YoY to $143.287 billion and imports increased by 5 per cent YoY to $216.827 billion in the January-July period this year.

Exports, excluding energy products and non-monetary gold, were worth $18.485 billion—a 9.9 per cent YoY increase in July. Such imports were worth $24.52 billion—a 24.1 per cent increase YoY during the month.

Foreign trade volume was worth $43.5 billion—a 17.6 per cent YoY increase.

Foreign trade deficit was worth $12.217 billion during the month—a 14.2 per cent YoY increase. Foreign trade deficit, excluding energy products and non-monetary gold, was worth $6.35 billion.

In the January-July period, foreign trade deficit was worth $73.539 billion—an 18.1 per cent YoY increase.

In July, the share of manufacturing industries products in the total exports was 92.9 per cent. In the January-July period, that share was 94.4 per cent.

The main partner country for exports in July was Germany ($1.673 billion), followed by Italy ($1.103 billion), the United States ($1.101 billion), Iraq ($978 million) and the United Kingdom ($962 million). The share of the first five countries in the total exports was 29 per cent in July.

In the January-July 2023 period, the main partner country for exports was Germany ($12.378 billion), followed by the United States ($8.489 billion), Italy ($7.265 billion), the United Kingdom ($6.958 billion) and Iraq ($6.648 billion). The share of the first five countries in total exports was 29.1 per cent during the period.

In July, the top country for Turkiye's imports was China ($4.603 billion), followed by Russia ($3.65 billion), Germany ($2.839 billion), Switzerland ($2.458 billion), the United States ($1.602 billion). The share of the first five countries in total imports was 46.9 per cent in the month.

In the January-July period, the top country for imports was Russia ($28.384 billion), followed by China ($26.841 billion), Germany ($16.278 billion), Switzerland ($14.249 billion) and the United States ($9.145 billion). The share of the first five countries in total imports was 43.8 per cent during the period.

Fibre2Fashion News Desk (DS)