Foreign trade deficit in Turkey decreases by 31,2 percent in October

The report released by Turkish Statistical Institute has announced that foreign trade deficit in Turkey decreased by %31,2 in October 2012. Turkish government has been doing its utmost to improve foreign trade figures and balance between imports and exports. Within this framework we understand positive results are being achieved and Turkey can look at the future in a more confident way in terms of a healthy economy.

30.11.2012
BTT

Down below is the report published by the Turkish Statistical Institute;

According to the provisional data, produced with the cooperation of Turkish Statistical Institute and Ministry of Customs and Trade, in October 2012; exports increased by 11,6% and reached to 13 292 Million Dollars while imports decreased by 5,6% and reached to 18 803 Million Dollars compared with October 2011.

In the same month, foreign trade deficit decreased from 8 012 Million Dollars to 5 511 Million Dollars.

Calendar adjusted exports increased by 19,3% and imports decreased by 1,7% compared with October 2011. Seasonally and calendar adjusted exports increased by 0,7% and imports decreased by 4,1% compared with previous month.

In October 2012 exports coverage imports was 70,7% while it was 59,8% in October 2011.

The EU’s share in exports decreased to 40% in October 2012
As compared with the same month of the previous year, exports to EU were 5 315 Million Dollars increased by 1%. The proportion of the EU countries was 40% in October 2012 while it was 44,2% in October 2011.

In October 2012, the main partner country for exports was Germany with 1 109 Million Dollars and decreased by 8,5%. For exports, Germany was followed by Iraq (930 Million Dollars), the United Kingdom (900 Million Dollars) and United Arab Emirates (688 Million Dollars).

For October 2012, the top country for Turkey’s imports was Russia (2 286 Million Dollars), records for imports range from China (1 735 Million Dollars), Germany (1 611 Million Dollars) and the USA (1 041 Million Dollars).

Precious stones and metals are forfront in exports according to chapters

For October 2012, “precious stones and metals” has by far the highest value exported at 1 515 million dollars and “vehicle other than railway or tramway rolling-stock, parts thereof” (1 304 million dollars), “boilers, machinery and mechanical appliances, parts thereof” (1 046 million dollars) and “iron and steel” (962 million dollars).

At the same period, the top categories for imports were “mineral fuels and oils” (4 961 million dollars) and then “boilers, machinery and mechanical appliances” (2 152 million dollars), “iron and steel” (1 686 million dollars) and “electrical machinery and equipment” (1 408 million dollars).

 The publication date of the next press release related to this subject is 28.12.2012

Communication: Bülent TUNGUL, Foreign Trade Statistics Head of Section Tel: 0 312 410 05 35
Fax: 0 312 418 21 29