According to the Digital Data Panel of the Turkey Food and Beverage Industry Association Federation (TGDF), the agricultural, food, and beverage sector recorded a remarkable $23.85 billion in exports during the first 11 months of last year, representing a 5.38% increase compared to the same period in the previous year.
Based on data derived from the Turkey Statistical Institute’s (TÜİK) Foreign Trade Data, the TGDF Digital Data Panel revealed that the Foreign Trade Balance for the January-November period of last year achieved a surplus of $4.17 billion.
In terms of monthly figures, exports in November 2023 saw a 5.34% increase, reaching $2.62 billion compared to the same period the previous year. Import figures, on the other hand, decreased by 11.71% to $1.43 billion during the same month. Noteworthy changes in import trends for November include a 940% increase in cattle imports, an 8.6% rise in wheat imports, and a 16.4% decline in soybean imports.
The surge in cattle imports persisted in November following increases in July, August, September, and October. The total value of cattle imports for the 11 months of the year amounted to $1.03 billion, with November alone accounting for $170.4 million. Brazil led the way in November cattle imports with $92.8 million, followed by Uruguay with $43.2 million and the Czech Republic with $8.8 million.
During this period, the agricultural, food, and beverage sector maintained a surplus in foreign trade. The Foreign Trade Balance showed a 3.66% increase, reaching a surplus of $4.16 billion for the January-November period compared to the same period in the previous year.
The top product in exports was flour, generating $1.36 billion, followed by refined sunflower oil at $871.8 million and hazelnut kernels at $839.1 million. These products collectively constituted 12.8% of the total exports during the January-November period.
Conversely, the most imported product during this period was wheat, totaling $3.19 billion, followed by soybeans at $1.61 billion and raw sunflower oil at $1.23 billion.
Russia and Ukraine maintained their positions as the top two countries from which wheat is imported. During this period, wheat imports from Russia reached $2.41 billion, Ukraine contributed $725.4 million, and Moldova contributed $29.1 million. The combined share of Russia and Ukraine in total wheat imports reached 98.3%.
In November, corn emerged as the leading product in exports, amounting to $176.2 million, followed by tangerines at $132.1 million and wheat flour at $118.1 million. Meanwhile, the most imported products in November were wheat at $196.2 million, cattle at $170.4 million, and soybeans at $85.2 million. Wheat remained the top import product for the 11 months of last year, totaling $3.19 billion.
Top export destinations for the first 11 months of last year included Iraq at $2.90 billion, followed by Germany at $1.71 billion, Russia at $1.60 billion, the United States at $1.42 billion, and Italy at $1.09 billion. The collective exports to these five countries accounted for 36.51% of the total exports.
Russia led the way in imports, contributing $4.63 billion, followed by Ukraine at $2.67 billion, Brazil at $1.84 billion, Malaysia at $923 million, and the United States at $890 million.
source: aa.com.tr / prepared by Melisa Beğiç