May 2, 2024
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Trade, in March 2024; exports were 22 billion 571 million dollars with a 4.1% decrease and imports were 29 billion 912 million dollars with a 6.3% decrease compared with March 2023.
Exports increased by 3.6%, imports decreased 12.8% respectively in January-March 2024
In January-March 2024 period, exports were 63 billion 603 million dollars with a 3.6% increase and imports were 83 billion 945 million dollars with a 12.8% decrease compared with January-March 2023.
Foreign trade by months, March 2024
Energy products and non-monetary gold excluded exports and imports decreased by 5.1%, 6.7% respectively in March 2024
Exports, excluding energy products and non-monetary gold, were 20 billion 789 million dollars with a 5.1% decrease in March 2024. Imports, excluding energy products and non-monetary gold, were 22 billion 805 million dollars with a 6.7% decrease in March 2024.
Foreign trade deficit, excluding energy products and non-monetary gold, was 2 billion 16 million dollars in March 2024.
Foreign trade volume was 43 billion 594 million dollars with a 6.0% decrease. Energy products and non-monetary gold excluded export coverage imports was 91.2%.
Export rate of change, March 2024 Import rate of change, March 2024
The foreign trade deficit decreased by 12.4% in March 2024
In March 2024, foreign trade deficit was 7 billion 341 million dollars with a 12.4% decrease compared with March 2023. In March 2024, exports coverage imports was 75.5%, while it was 73.8% in March 2023.
The foreign trade deficit decreased by 41.5% in January-March 2024
In January-March 2024 period, foreign trade deficit was 20 billion 343 million dollars with a 41.5% decrease compared with January-March 2023. In the same period, exports coverage imports was 75.8%, while it was 63.8% in January-March 2023.
Export, import and balance, March 2024
The ratio of manufacturing industries products in total exports was 94.6% in March 2024
In March 2024, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 94.6%, 3.5%, 1.5%, respectively.
In January-March 2024 period, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 93.9%, 4.1%, 1.5%, respectively
The ratio of intermediate goods in total imports was 69.9% in March 2024
In March 2024, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 69.9%,14.5%,15.5%, respectively.
In January-March 2024 period, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 70.6%,14.8%,14.5%, respectively.
Foreign trade by sectors, March 2024
The main partner for exports was Germany in March 2024
In March 2024, the main partner country for exports was Germany with 1 billion 749 million dollars. The country was followed by Italy with 1 billion 288 million dollars, USA with 1 billion 265 million dollars, Iraq with 1 billion 189 million dollars, and United Kingdom with 1 billion 172 million dollars. The ratio of the first five countries in total exports was 29.5% in March 2024.
In January-March 2024 period, the main partner country for exports was Germany with 5 billion 232 million dollars. The country was followed by USA with 3 billion 804 million dollars, Italy with 3 billion 449 million dollars, Iraq with 3 billion 357 million dollars and United Kingdom with 3 billion 256 million dollars. The ratio of the first five countries in total exports was 30.0% in January-March 2024.
The main partner for imports was China in March 2024
In March 2024, the top country for Türkiye’s imports was China with 3 billion 900 million dollars. The country was followed by Russia with 3 billion 632 million dollars, Germany with 2 billion 146 million dollars, Italy with 1 billion 902 million dollars, USA with 1 billion 407 million dollars. The ratio of first five countries in total imports was 43.4% in March 2024.
In January-March 2024 period, the top country for Türkiye’s imports was Russia with 11 billion 984 million dollars. The country was followed by China with 10 billion 227 million dollars, Germany with 6 billion 282 million dollars, Italy with 4 billion 632 million dollars, USA with 4 billion 146 million dollars. The ratio of first five countries in total imports was 44.4% in January-March 2024.
Exports by countries, March 2024 Imports by countries, March 2024
Seasonally and calendar adjusted exports increased by 0.8%
In March 2024, seasonally and calendar adjusted exports and imports increased by 0.8%, 3.9% respectively, compared with previous month. In March 2024, calendar adjusted exports and imports increased by 1.1%, 0.8% respectively compared with March 2023.
Ratio of exports of high-tech products in manufacturing industries was 3.3%
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 94.6% in March 2024.The ratio of high-technology products in manufacturing industries exports was 3.3%. The ratio of manufacturing industries products in total exports was 93.9% in January-March 2024. In January-March 2024 period, the ratio of high-technology products in manufacturing industries exports was 3.1%.
The ratio of manufacturing industries products in total imports was 81.5%. The ratio of high-technology products in manufacturing industries’ imports was 11.3% in March 2024. The ratio of manufacturing industries’ products in total imports was 79.0% in January-March 2024. The ratio of high-technology products in manufacturing industries’ imports was 11.8% in January-March 2024.
Foreign trade by manufacturing industries based on technology intensity, March 2024
According to the special trade system, exports were 20 billion 663 million dollars in March 2024
According to the special trade system, in March 2024, exports were 20 billion 663 million dollars with a 4.1% decrease and imports were 28 billion 5 million dollars with a 7.6% decrease compared with March 2023.
In March 2024 foreign trade deficit was 7 billion 341 million dollars with a 16.2% decrease compared with March 2023.
Exports coverage imports was 73.8%, while it was 71.1% in March 2023.
Exports were 57 billion 794 million dollars in January-March 2024
According to the special trade system, exports were 57 billion 794 million dollars with a 3.1% increase and imports were 79 billion 74 million dollars with a 13.1% decrease compared with January-March 2023.
In January-March 2024 period, foreign trade deficit was 21 billion 280 million dollars with a 39.2% decrease compared with January-March 2023.
Exports coverage imports was 73.1%, while it was 61.6% in January-March 2023.
Foreign trade by special trade system, March 2024
The next release on this subject will be on May 30, 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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