Business is booming.

Foreign trade deficit increased by 155.2 percent

0 23

The discontinuous foreign trade information for May, which was created in cooperation with the Turkish Statistical Institute and the Ministry of Trade, was announced. Foreign trade deficit increased by 155.2 percent in May.

ANKARA (IGFA) – Turkey’s exports increased by 15.3 percent in May compared to the same month of the previous year, reaching 18 billion 984 million dollars, while imports increased by 43.5 percent to 29 billion 588 million dollars.

IN JANUARY-MAY PERIOD, EXPORTS INCREASED 20.4 PERCENT, IMPORTS INCREASED 40.8 PERCENT

According to the general trade system, in the January-May period of 2022, exports increased by 20.4 percent compared to the same period of the previous year and reached 102 billion 469 million dollars, while imports increased by 40.8 percent to 145 billion 675 million dollars .

Exports, excluding energy works and non-cash gold, increased by 13.2 percent in May 2022 from 15 billion 472 million dollars to 17 billion 514 million dollars.

In May, imports excluding power works and non-cash gold increased by 22.6 percent from 17 billion 339 million dollars to 21 billion 264 million dollars.

Foreign trade deficit, excluding energy works and non-cash gold, was 3 billion 750 million dollars in May. Foreign trade volume increased by 18.2 percent and reached 38 billion 777 million dollars. The ratio of exports to imports, excluding power and gold, was 82.4 percent.

FOREIGN TRADE DEFICIT INCREASED 155.2 PERCENT

According to the data, the foreign trade deficit in May increased by 155.2 percent compared to the same month of the previous year, from 4 billion 156 million dollars to 10 billion 605 million dollars. While the ratio of exports to imports was 79.8 percent in May 2021, it decreased to 64.2 percent in May 2022.

In May, the share of intermediate goods in total imports was 81.3%.

WHICH COUNTRIES ARE LEADING IN EXPORT AND IMPORT…

Germany took the first place in exports in May. While the export to Germany is 1 billion 492 million dollars, this country is respectively; It was followed by the USA with 1 billion 273 million dollars, Iraq with 978 million dollars, Italy with 953 million dollars and the United Kingdom with 911 million dollars. Exports to the top 5 countries accounted for 29.5 percent of total exports.

The Russian Federation took the first place in imports.

Leave A Reply

Your email address will not be published.