According to the temporary foreign trade data released by the Turkish Statistical Institute (TSI) and the Ministry of Trade, total imports in September reached USD 29 billion 478 million 616 thousand , 8.7% increase compared to the same month last year.
Within this total, the group “mineral fuels, mineral oils and products derived therefrom, bituminous substances, mineral waxes” which constitutes the energy item, accounted for USD 4 billion 539 million 258 thousand. In September last year, this figure was recorded as USD 4 billion 707 million 994 thousand.
Thus, the value of energy imports decreased by 3.6% on an annual basis.
During the same period, crude oil imports saw a remarkable increase. In September, crude oil imports increased by 62.4% compared to the same month last year, reaching 2 million 738 thousand 756 tons.
Despite the overall increase in imports, this drop in the energy item provided limited relief on Türkiye’s energy bill, while the increase in crude oil imports painted a different picture of the demand supply balance in energy markets.
Source: AA
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