According to the general trade system exports increased by 11.3%, imports decreased 10.4% in May 2024
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Trade, in May 2024; exports were 24 billion 66 million dollars with a 11.3% increase and imports were 30 billion 568 million dollars with a 10.4% decrease compared with May 2023.
Exports increased by 4.5%, imports decreased by 9.2% in January-May 2024
In January-May 2024 period, exports were 106 billion 877 million dollars with a 4.5% increase and imports were 143 billion 682 million dollars with a 9.2% decrease compared with January-May 2023.
Foreign trade by months, May 2024
Energy products and non-monetary gold excluded exports increased by 9.2%, imports decreased by 8.0% in May 2024
Exports, excluding energy products and non-monetary gold, were 21 billion 969 million dollars with a 9.2% increase in May 2024. Imports, excluding energy products and non-monetary gold, were 23 billion 971 million dollars with a 8.0% decrease in May 2024.
Foreign trade deficit, excluding energy products and non-monetary gold, was 2 billion 2 million dollars in May 2024.
Foreign trade volume was 45 billion 940 million dollars with a 0.5% decrease. Energy products and non-monetary gold excluded export coverage imports was 91.7%.
Export rate of change, May 2024 Import rate of change, May 2024
The foreign trade deficit decreased by 48.0% in May 2024
In May 2024, foreign trade deficit was 6 billion 502 million dollars with a 48.0% decrease compared with May 2023. In May 2024, exports coverage imports was 78.7%, while it was 63.4% in May 2023.
The foreign trade deficit decreased by 34.3% in January-May 2024
In January-May 2024 period, foreign trade deficit was 36 billion 805 million dollars with a 34.3% decrease compared with January-May 2023. In the same period, exports coverage imports was 74.4%, while it was 64.6% in January-May 2023.
Export, import and balance, May 2024
The ratio of manufacturing industries products in total exports was 94.8% in May 2024
In May 2024, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 94.8%, 3.1%, 1.7%, respectively.
In January-May 2024 period, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 94.2%, 3.7%, 1.6%, respectively
The ratio of intermediate goods in total imports was 68.9% in May 2024
In May 2024, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 68.9%,14.7%,16.1%, respectively.
In January-May 2024 period, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 70.0%,14.6%,15.3%, respectively.
Foreign trade by sectors, May 2024
The main partner for exports was Germany in May 2024
In May 2024, the main partner country for exports was Germany with 1 billion 902 million dollars. The country was followed by United Kingdom with 1 billion 521 million dollars, USA with 1 billion 475 million dollars, Iraq with 1 billion 148 million dollars and Italy with 1 billion 124 million dollars. The ratio of the first five countries in total exports was 29.8% in May 2024.
In January-May 2024 period, the main partner country for exports was Germany with 8 billion 609 million dollars. The country was followed by USA with 6 billion 459 million dollars, United Kingdom with 5 billion 893 million dollars, Italy with 5 billion 433 million dollars and Iraq with 5 billion 378 million dollars. The ratio of the first five countries in total exports was 29.7% in January-May 2024.
The main partner for imports was China in May 2024
In May 2024, the top country for Türkiye’s imports was China with 3 billion 862 million dollars. The country was followed by Russia with 3 billion 780 million dollars, Germany with 2 billion 282 million dollars, Italy with 1 billion 879 million dollars, USA with 1 billion 456 million dollars. The ratio of first five countries in total imports was 43.4% in May 2024.
In January-May 2024 period, the top country for Türkiye’s imports was Russia with 19 billion 90 million dollars. The country was followed by China with 17 billion 846 million dollars, Germany with 10 billion 806 million dollars, Italy with 8 billion 498 million dollars, USA with 6 billion 931 million dollars. The ratio of first five countries in total imports was 44.0% in January-May 2024.
Exports by countries, May 2024 Imports by countries, May 2024
Seasonally and calendar adjusted exports inreased by 9.6%
In May 2024, while seasonally and calendar adjusted exports increased by 9.6%, imports decreased by 9.6% compared with previous month. In May 2024, while calendar adjusted exports increased by 11.6%, imports decreased by 12.1% compared with May 2023.
Ratio of exports of high-tech products in manufacturing industries was 3.8%
Foreign trade by technology intensity covers the manufacturing industries’ products in classification of ISIC Rev.4. According to the ISIC Rev.4, the ratio of manufacturing industries products in total exports was 94.8% in May 2024.The ratio of high-technology products in manufacturing industries exports was 3.8%. The ratio of manufacturing industries products in total exports was 94.2% in January-May 2024. In January-May 2024 period, the ratio of high-technology products in manufacturing industries exports was 3.4%.
The ratio of manufacturing industries products in total imports was 82.9%. The ratio of high-technology products in manufacturing industries’ imports was 10.3% in May 2024. The ratio of manufacturing industries’ products in total imports was 80.5% in January-May 2024. The ratio of high-technology products in manufacturing industries’ imports was 11.0% in January-May 2024.
Foreign trade by manufacturing industries based on technology intensity, May 2024
According to the special trade system, exports were 22 billion 26 million dollars in May 2024
According to the special trade system, in May 2024, exports were 22 billion 26 million dollars with a 12.6% increase and imports were 28 billion 940 million dollars with a 8.8% decrease compared with May 2023.
In May 2024 foreign trade deficit was 6 billion 914 million dollars with a 43.1% decrease compared with May 2023.
Exports coverage imports was 76.1%, while it was 61.7% in May 2023.
Exports were 97 billion 83 million dollars in January-May 2024
According to the special trade system, exports were 97 billion 83 million dollars with a 4.1% increase and imports were 134 billion 642 million dollars with a 9.4% decrease compared with January-May 2023.
In January-May 2024 period, foreign trade deficit was 37 billion 559 million dollars with a 32.1% decrease compared with January-May 2023.
Exports coverage imports was 72.1%, while it was 62.8% in January-May 2023.
Foreign trade by special trade system, May 2024
The next release on this subject will be on July 31, 2024.
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EXPLANATIONS
Foreign trade statistics are calculated according to two different trade systems, general trade system and special trade system.In the general trade system, goods entering and leaving the economic area of a country are covered. In this system, free zones, customs warehouses and goods entering or leaving the free circulation area, which constitute the economic area of the country, are included in the calculations.In the special trade system, customs warehouses and free zones are not included in the statistics, only goods entering and leaving the country’s free circulation area are covered.
In this context, in order to ensure consistency with economic statistics such as balance of payments and national accounts calculations, foreign trade statistics, which is produced by Turkish Statistical Institute in collaboration with the Ministry of Trade, have been published according to the general trade system in detail from January 2020. In addition, statistics according to the special trade system have been published in the press release and additional tables.
Source: Turkish Statistical Institute (TurkStat)
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