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TUIK announced! Foreign trade deficit decreased by 17.5%

Turkish Statistical Institute (TUIK) announced foreign trade data for October.

TUIK announced! Foreign trade deficit decreased by 17.5%

According to the provisional data produced within the scope of the general trade system, exports increased by 7.4% compared to the same period last year and reached 22 billion 871 million dollars. Imports increased by 0.6% to 29 billion 390 million dollars.

In the January-October period, exports increased by 0.2% and imports by 1.1%. In the period when exports were 209 billion 904 million dollars and imports were 303 billion 821 million dollars, exports excluding energy products and gold increased by 4.6% while imports rose by 18.8%.

In October, foreign trade deficit was recorded as 1 billion 508 million USD. However, foreign trade volume increased by 11.5% to 42 billion 761 million dollars. Moreover, the ratio of exports to imports excluding energy and gold was realized as 93.2%.

Foreign trade deficit decreased by 17.5% compared to October last year to 6 billion 519 million dollars. In the same period, the ratio of exports to imports rose to 77.8%.

However, foreign trade deficit increased by 3.2% yoy to 93 billion 917 million USD in January-October period. In this period, the ratio of exports to imports declined to 69.1%.

In October, manufacturing industry increased its share in exports to 93.5%, while agriculture and forestry and mining accounted for 4.6% and 1.5%, respectively. In January-October period, manufacturing industry accounted for 94.5% of exports.

In October, the share of intermediate goods in imports was 68.2%, capital goods 15.7% and consumer goods 16.1%. In January-October period, the share of intermediate goods in imports was 73.0%, capital goods 14.1% and consumer goods 12.8%.

Germany was the largest export destination in October. Exports to Germany amounted to 1 billion 763 million dollars, while exports to the top 5 countries accounted for 28.7% of the total. In the January-October period, Germany again ranked first in exports.

China ranked first in imports in October. In the January-October period, China is the country with the highest imports.

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