Turkiye sees record exports to 8 countries in May

May exports rose by 15.2 per cent YoY to $19 billion and imports were up by 43.8 per cent YoY to $29.7 billion, driven by soaring energy costs that have been widening the country’s trade deficit.

Turkish exporters achieved record sales between January and May this year. The 12-month rolling export figure reached $242.6 billion as of last month, Turkish media reported.

Exports had ended 2021 at $225.4 billion. These are expected to reach $250 billion this year.

The January-May exports jumped by 20.4 per cent year over year (YoY) to $102.5 billion, while imports were up by nearly 41 per cent to $145.74 billion, the data showed.

Energy accounted for a whopping $6.9 billion of imports in May, pushing the foreign trade gap to a fresh record high of $10.7 billion, a 157 per cent increase from a year ago.

In May, Turkey’s exports to Senegal jumped 190 per cent on annual basis to $87.2 million, soared 629 per cent to $71.2 million to the Dominican Republic and increased 87 per cent to $66.5 million to North Macedonia.

Exports to Rwanda in May skyrocketed by 821 per cent YoY to $32 million, while they increased by 76.5 per cent to Tajikistan to reach $31.5 million, and by 211 per cent to Cameroon, hitting $30.8 million.

In the same month, exports to Costa Rica soared by 403 per cent on annual basis to $28.4 million, while exports to Montenegro jumped by 200 per cent to $28.2 million.

ALCHEMPro News Desk (DS)