TUIK announces foreign trade indices for March

Turkish Statistical Institute (TUIK) announced foreign trade indices for March.

Accordingly, the export unit value index decreased by 1.4 percent in March compared to the same month last year.

The index increased by 0.6 percent in food, beverages and tobacco and 2.3 percent in fuels, while it decreased by 2.3 percent in raw materials (excluding fuel) and 1.9 percent in manufacturing industry (excluding food, beverages and tobacco) compared to March 2023.

The import unit value index decreased by 2 percent on an annual basis in March.

Compared to the same month of the previous year, the index decreased by 7.7 percent in food, beverages and tobacco, 3.4 percent in fuels, 5.1 percent in raw materials (excluding fuel) and 3.1 percent in manufacturing industry (excluding food, beverages and tobacco).

Quantity indices

The export quantity index decreased by 2.8 percent in March compared to the same month last year. In this period, the index increased by 2.3 percent in food, beverages and tobacco and 30.8 percent in fuels, while it decreased by 9 percent in raw materials (excluding fuel) and 4 percent in manufacturing industry (excluding food, beverages and tobacco).

The import quantity index decreased by 4.4 percent on an annual basis in March. Compared to the same month of the previous year, the index decreased by 19.5 percent in food, beverages and tobacco, 6.6 percent in raw materials (excluding fuel), 2.6 percent in fuels, and 1.5 percent in manufacturing industry (excluding food, beverages and tobacco).

Seasonally and calendar adjusted data

According to the seasonally and calendar adjusted series, the export quantity index, which was 155.4 in February, decreased by 0.5 percent in March and was calculated as 154.7. According to the calendar adjusted series, the export quantity index, which was 154.4 in March last year, increased by 5.3 percent to 162.6.

According to the seasonally and calendar adjusted series, the import quantity index, which was 124.2 in February, increased by 3.5 percent to 128.5 in March. According to the calendar adjusted series, the index, which was 129.4 in March last year, increased by 2.2 percent and was calculated as 132.3 in the same month of this year.

The terms of trade, which is calculated by dividing the export unit value index by the import unit value index and which was 86.7 in March last year, increased by 0.5 points to 87.2 in the same month of this year.