Exports Decrease by 14.3 Percent, Imports Decrease by 22.7 Percent in June

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The Turkish Statistical Institute (TurkStat) has announced the foreign trade figures for June compared to the same month last year. According to the provisional data that the TurkStat produced in cooperation with the Ministry of Trade, exports were 11 billion 82 million dollars with a 14.3 percent decrease and imports were 14 billion 259 million dollars with a 22.7 percent decrease compared to June 2018.

Foreign trade deficit

The foreign trade deficit decreased by 42.5 percent to 423 billion 177 million dollars in June 2019 compared with the same month last year, the TurkStat announced. In June 2019, exports' coverage of imports was 77.7 percent while it was 70.1 percent in June 2018.

Seasonally and calendar adjusted exports and imports decreased by 15.5% and 0.2%, respectively compared with the previous month. Calendar adjusted exports and imports decreased by 8.1% and 14.8%, respectively compared to June 2018.

Top countries for imports and exports

Germany was the top country for Turkey's imports in June with 1 billion 74 million dollars. It was followed by the UK with 685 million dollars, France with 640 million dollars and Italy with 613 million dollars.

As for imports, Russia was the leading country with 1 billion 537 million dollars. It was followed by China with 1 billion 276 million dollars, Germany with 1 billion 192 million dollars and the US with 919 million dollars.

High-tech products

According to the TurkStat data, the ratio of manufacturing industries products in total exports was 94 percent in June. The ratio of high-technology products in manufacturing industries exports was 3.5 percent.

The ratio of manufacturing industries products in total imports was 76.5 percent. The ratio of high-technology products in manufacturing industries' imports was 13.9 percent in June 2019.

Figures according to the general trade system

According to the general trade system in June 2019, exports were 11 billion 594 million dollars with a 14.9 percent decrease and imports were 15 billion 71 million dollars with a 22.9 percent decrease compared to June 2018. Exports coverage imports was 76.9 percent in June 2019. (HA/VK)

Images: TurkStat