Turkey’s exports and imports increased in January, according to provisional data published on Monday.
Exports increased 17.2% to $17.59 billion in January, compared to with the same month last year. Imports increased by 54.2% year-on-year to reach $27.85 billion last months, data revealed by the Turkish Statistical Institute (TurkStat) and the Ministry of Commerce showed.
“Exports, excluding energy products and non-monetary gold, amounted to $16.75 billion with an increase of 19.6% in January 2022. Imports, excluding energy products and non-monetary gold, were $18.41 billion with an increase of 31.1% in January 2022,” said TurkStat in A declaration.
“Foreigner trade the deficit, excluding energy products and non-monetary gold, was $1.66 billion in January 2022”, it added.
Foreigner trade volume was $35.16 billion with an increase of 25.4%.
In January 2022, foreigners trade the deficit was $10.26 billion with an increase of 234.9% compared to with January 2021, he says.
When total economic activities are analysed, the share of manufacturing industry in exports in January was 93.3%, the share of the agriculture, forestry and fishing sector was 4.1% and the share of the mining and quarrying sector was 2.1%.
According to the classification of major economic groups, share of intermediate goods in imports was 83.9%, the share of capital goods was 10% and the share of consumer goods was 6.1%.
Germany took the Lions share in exports made in January with $1.6 billion in overseas sales.
Germany was followed by the United States with $1.2 billion, Italy with $1.2 billion, the UK with 948 millions dollars and Iraq with 883 millions of dollars. Exports to the first five countries counted for 32.4% of total exports.
Russia ranked first in imports last month with $4.6 billion in January.
Russia was followed by China with $3.9 billion, Germany with $1.4 billion, the United States with $1.2 billion and Italy with 769 millions of dollars. Imports of the top five countries constituted 40.3% of total imports.