Turkish exports rise by 1.6% YoY, imports fall by 6.9% YoY in Aug 2023

Exports in the month were worth $21.615 billion and imports worth $30.271 billion.

Exports rose by 0.4 per cent YoY to $164.794 billion and imports fell by 3.4 per cent YoY to $247.97 billion in the January-August period.

Exports, excluding energy products and non-monetary gold, were worth $19.727 billion in August—a 0.7 per cent YoY increase. Such imports were worth $21.655 billion in the month—a 0.9 per cent increase YoY.

Foreign trade volume was worth $41.382 billion—a 0.8 per cent increase.

Foreign trade deficit was worth $8.657 billion in August—a 23.1 per cent YoY decrease. It increased by 11.9 per cent YoY in January-August this year to $82.304 billion.

Foreign trade deficit, excluding energy products and non-monetary gold, was $1.928 billion in August.

The main partner country for exports in August was Germany with a figure of $1.782 billion. It was followed by the United States ($1.323 billion), Iraq ($1.91 billion), the United Kingdom ($1.63 billion) and Italy ($877 million). The share of these first five countries in total exports was 28.4 per cent during the month.

In the January-August 2023 period, the main partner country for exports was again Germany with a figure of $14.159 billion. It was followed by the United States ($9.81 billion), Italy ($8.99 billion), the United Kingdom ($8.2 billion) and Iraq ($7.738 billion). The share of these first five countries in total exports during the period was 29 per cent.

The top country for Turkiye's imports in August was China with a figure of $3.829 billion. It was followed by Russia ($3.339 billion), Germany ($2.555 billion), the United Arab Emirates ($1.988 billion) and Switzerland ($1.449 billion). The share of these five countries in total imports was 43.5 per cent during the month.

In the January-August 2023 period, the top country for imports was Russia with a figure of $31.722 billion. It was followed by China ($30.67 billion), Germany ($18.833 billion), Switzerland ($15.698 billion) and the United States ($10.591 billion). The share of these five countries in total imports during the period was 43.5 per cent.

ALCHEMPro News Desk (DS)