Turkey's exports increased by 25.4 percent in February compared to the same month of the previous year, reaching $20 billion and 4 million, .

Turkey's exports rise during February 2022

Date:Thursday, March 31, 2022

Turkey's exports increased by 25.4 percent in February compared to the same month of the previous year, reaching $20 billion and 4 million, .

Turkey's exports rise during February 2022
 

Turkey's exports increased by 25.4 percent in February compared to the same month of the previous year, reaching $20 billion and 4 million, while imports increased by 44.5 percent, reaching $27 billion and 885 million.

In this context, the temporary foreign trade data for the month of February was announced, which was created in cooperation with the Turkish Statistical Institute and the Ministry of Trade.


Accordingly, and according to the temporary foreign trade data issued within the scope of the general trade system; In February 2022, exports increased by 25.4 percent compared to the same month in the previous year and amounted to $20 billion and 4 million, while imports increased by 44.5 percent, reaching $27 billion and 885 million.

In the January-February period, exports increased by 21.4 percent and imports increased by 49.2 percent.

According to the general trade system, exports increased by 21.4 percent in the period from January to February of 2022 compared to the same period in the previous year, and amounted to 37 billion and 580 million dollars, while imports increased by 49.2 percent to reach 55 billion 733 million dollars.


And exports, excluding energy products and non-monetary gold, increased by 25.5 percent in February 2022 from $15 billion 246 million to $19 billion and $130 million.

The data revealed that in February, imports excluding energy products and non-monetary gold increased by 26.8 percent from $15 billion, 523 million to $19 billion and 690 million.

The foreign trade deficit, excluding energy products and non-monetary gold, was $560 million in February.

And the volume of foreign trade increased by 26.2 percent and amounted to 38 billion and 820 million dollars.

In the mentioned month, the ratio of exports to imports excluding energy and gold was 97.2 percent.


The foreign trade deficit in February increased by 135.5 percent compared to the same month in the previous year, and rose from 3 billion and 347 million dollars to 7 billion and 881 million dollars.

While the ratio of exports to imports was 82.7 percent in February 2021, it decreased to 71.7 percent in February 2022.

In the January-February period, the foreign trade deficit increased by 183.3 percent from $6 billion, 408 million to $18 billion, 153 million.

While the ratio of exports to imports was 82.8 percent in the January-February period of 2021, it declined to 67.4 percent in the same period in 2022.


According to economic activities, the share of the manufacturing industry in February 2022 was 94.4 percent, the share of agriculture, forestry and fishing was 3.4 percent, and the share of the mining and quarrying sector was 1.5 percent.

In the January-February period, the share of the manufacturing industry in exports was 93.9 percent, the share of agriculture, forestry and fishing was 3.7 percent, and the share of the mining and quarrying sector was 1.8 percent, according to economic activities.

According to the classification of broad economic groups, in February 2022, the share of intermediate goods was 82.8%, the share of capital goods was 9.7%, and the share of consumer goods was 7.4%.

In the January-February 2022 period, the share of intermediate goods was 83.4%, the share of capital goods was 9.8%, and the share of consumer goods was 6.8%.


Germany

Germany ranked first in exports in February. While exports to Germany 1 billion 785 million, and this country respectively. The United States has 1 billion 299 million dollars, the United Kingdom one billion 98 million dollars, Italy one billion 85 million dollars, and Iraq one billion 70 million dollars. Exports to the top five countries accounted for 31.7 percent of total exports.

Germany ranked first in exports in the January-February period. While exports to Germany 3 billion and 402 million, and this country, respectively. It was followed by the United States of America with 2 billion 519 million dollars, Italy 2 billion 109 million dollars, the United Kingdom 2 billion 45 million dollars, and Iraq with 953 billion dollars. Exports to the top five countries accounted for 32.0 percent of total exports.

Russian Federation

The Russian Federation ranked first in imports. While imports from the Russian Federation in February amounted to 3 billion and 858 million dollars, and this country, respectively; China 3 billion 176 million dollars, Germany 1 billion 835 million dollars, the United States 1 billion 60 million, India 1 billion 58 million dollars. Imports from the top five countries accounted for 39.4 percent of the total imports.

In the January-February period, the Russian Federation took the first place in imports. While imports from the Russian Federation amounted to 8 billion and 496 million dollars, respectively. China 6 billion 270 million dollars, Germany 3 billion 275 million dollars, the United States 2 billion 339 million dollars, Italy 1 billion 780 million dollars. Imports from the top five countries accounted for 39.8 percent of the total imports.

According to the special trade system, exports in February 2022 increased by 25.2 percent compared to the same month in the previous year and amounted to $18 billion and 836 million, while imports increased by 42.4 percent to $26 billion and 460 million.

The foreign trade deficit in February increased by 116.0 percent from $3 billion and 530 million to $7 billion and 625 million. While the ratio of exports to imports was 81.0% in February 2021, it decreased to 71.2% in February 2022.

According to the special trade regime, exports in the period from January to February 2022 increased by 21.3 percent compared to the same period of the previous year and 

It amounted to 35 billion and 514 million dollars, while imports increased by 46.4 percent to reach 53 billion and 290 million dollars. .

In the January-February period, the foreign trade deficit increased by 150.1 percent from 7 billion and 108 million dollars to 17 billion and 776 million dollars. While the ratio of exports to imports was 80.5 percent in the January-February period of 2021, it declined to 66.6 percent in the same period in 2022.
 

 

Related Blogs:
 

The latest news of the Turkish economy

The flow of investments from Europe to Turkey

Ways to invest money

Investment conditions in Turkey

Real estate investment opportunities in Turkey

The importance of investing in Turkey

 


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