Turkiye's exports fall by 10.5% YoY, imports by 17.5% YoY in Jun 2023

Between January and June this year, exports were worth $123.341 billion—a decrease of 1.9 per cent, while imports amounted to $184.576 billion—an increase of 4.1 per cent.

Exports, excluding energy products and non-monetary gold, were worth $19.547 billion in June—a 10.4 per cent decrease YoY. Imports, excluding energy products and non-monetary gold, were worth $19.846 in the month—a 10.9 per cent decrease YoY.

Foreign trade deficit, excluding energy products and non-monetary gold, was worth $299 million in June, an official release said.

Foreign trade volume was 39 billion 393 million dollars with a 10.6 per cent decrease. Energy products and non-monetary gold excluded export coverage imports was 98.5 per cent.

In June, foreign trade deficit was $5.16 billion—a 37.3 per cent YoY decrease. It increased by 18.7 per cent in the January-June period this year to $61.235 billion.

The main export partner country in June this year was Germany, with exports worth $1.784 billion. It was followed by the United States ($1.331 billion), the United Kingdom ($1.65 billion), Italy ($1.12 billion) and Iraq ($986 million). The share of the first five countries in the total exports was 29.6 per cent in June.

In the first half this year, the main partner country for exports was again Germany, with exports worth $10.707 billion. It was followed by the United States ($7.387 billion), Italy ($6.163 billion), the United Kingdom ($5.997 billion) and Russia ($5.815 billion). The share of the first five countries in the total exports during the period was 29.2 per cent.

The top country for Turkiye's imports in June was China, with imports worth $3.756 billion. It was followed by Russia ($2.912 billion), Germany ($2.11 billion), Switzerland (1.313 billion), Italy ($1.121 billion). The share of the first five countries in the total imports was 42.6 per cent.

In the first half this year, the top country for imports was Russia, with imports worth $24.734 billion. It was followed by China ($22.238 billion), Germany ($13.439 billion), Switzerland ($11.791 billion) and the United States ($7.574 billion). The share of the first five countries in the total imports was 43.2 per cent during the period.

ALCHEMPro News Desk (DS)