Turkiye’s exports increased by 10.3% in January compared to the same month of the previous year and reached $19 billion 369 million, while imports increased by 20.7% to $33 billion 606 million.
Temporary foreign trade data for January, created in cooperation with the Turkish Statistical Institute and the Ministry of Trade, were announced.
According to the temporary foreign trade data produced within the scope of the general trade system in cooperation with the Turkish Statistical Institute and the Ministry of Trade; In January 2023, exports increased by 10.3% compared to the same month of the previous year and reached $19 billion 369 million, while imports increased by 20.7% and reached $33 billion 606 million.
The foreign trade deficit increased by 38.4% in January
The foreign trade deficit increased by 38.4% compared to the same month of the previous year and rose from $10 billion 290 million to $14 billion 237 million. While the ratio of exports to imports was 63.0% in January 2022, it decreased to 57.6% in January 2023.
According to the economic activities, the share of the manufacturing industry was 93.6%, the share of the agriculture, forestry and fishery sector was 4.2%, and the share of the mining and quarrying sector was 1.6%.
Germany was the country with the most exports in January
Germany took the first place in exports. While exports to Germany amounted to $1 billion 826 million, this country was followed by the USA with $1 billion 186 million, the Russian Federation with $1 billion 43 million, the United Kingdom with $954 million, and Italy with $916 million. Exports to the first 5 countries accounted for 30.6% of total exports.
Russian Federation took the first place in imports
The Russian Federation took the first place in imports. While the import from the Russian Federation was $5 billion 1 million in January, this country is respectively; Switzerland with $4 billion 337 million, China with $3 billion 557 million, Germany with $1 billion 807 million, and the USA with $1 billion 229 million. Imports from the first 5 countries constituted 47.4% of total imports.
The foreign trade deficit increased by 40.6% from $10 billion 170 million to $14 billion 302 million. While the ratio of exports to imports was 62.1% in January 2022, it decreased to 55.1% in January 2023.
Source: Trthaber / Prepared by Irem Yildiz