Report: Foreign Trade Statistics, February 2014

Turkish Statistical Institute has released Foreign Trade Statistics for February 2014, as follows;

Exports increased by 6.2% and imports decreased by 5.9%

According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in February 2014; exports were 13 150 Million Dollars with a 6.2% increase and imports were 18 250 Million Dollars with a 5.9% decrease compared with February 2013.

Foreign trade deficit decreased by 27.2%

In the same month, foreign trade deficit decreased by 27.2% from 7 009 Million Dollars to 5 100 Million Dollars.

In February 2014, exports coverage imports was 72.1%, while it was 63.9% in February 2013.

Seasonally and calendar adjusted exports increased by 4.5%

Seasonally and calendar adjusted exports increased by 4.5% and imports decreased by 2.9% compared with previous month. Calendar adjusted exports increased by 6.2% and imports decreased by 5.9% compared with February 2013.

Exports to the European Union (EU-28) increased by 7.5%

As compared with the same month of the previous year, exports to the EU-28 increased by 7.5% from 5 090 Million Dollars to 5 470 Million Dollars. The proportion of the EU countries was 41.6% in February 2014, while it was 41.1% in February 2013.

The main partner for exports was Germany

In February 2014, the main partner country for exports was Germany with 1 175 Million Dollars and increased by 8.4%. For exports, Germany was followed by Iraq (1 022 Million Dollars), the United Kingdom (729 Million Dollars) and Switzerland (642 Million Dollars).

The top country for imports was Russia

In February 2014, the top country for Turkey’s imports was Russia (2 044 Million Dollars), records for imports range from China (1 928 Million Dollars), Germany (1 721 Million Dollars) and USA (993 Million Dollars).

Ratio of exports of high-technology products in manufacturing industries was 3.1%

Foreign trade by technology intensity covers the manufacturing industries products in classification of ISIC Rev. 3. According to the ISIC Rev. 3, the ratio of manufacturing industries products in total export was 93.5% in February. The ratio of high-technology products in manufacturing industries was 3.1%. The ratio of medium-high-technology products in manufacturing industries was 30.3%.

Ratio of imports of high-technology products in manufacturing industries was 13%

The ratio of manufacturing industries products in total import was 75.6%. The ratio of high-technology products in manufacturing industries products was 13% in February 2014. The ratio of medium-high-technology products in manufacturing industries products was 43.9%

31.03.2014
SOURCE: TUIK