According to provisional foreign trade data produced within the scope of the general trade system in cooperation with the Turkish Statistical Institute (TURKSTAT) and the Ministry of Commerce, exports decreased by 6.4 percent in February 2023 compared to the same month of the previous year and imports increased by 10.1 percent to 30 billion 714 million dollars.
In the January-February period, exports increased by 1.4 percent and imports increased by 15.4 percent.
According to the general trade system, in the January-February period of 2023, exports increased by 1.4 percent compared to the same period of the previous year and amounted to 37 billion 992 million dollars, while imports increased by 15.4 percent to 64 billion 320 million dollars.
In February, exports excluding energy products and gold decreased by 7.9 percent, while imports increased by 1.5 percent.
Exports, excluding energy products and non-monetary gold, decreased by 7.9 percent in February 2023 from 19 billion 15 million dollars to 17 billion 520 million dollars.
In February, imports excluding energy products and non-monetary gold increased by 1.5 percent from 19 billion 690 million dollars to 19 billion 982 million dollars.
Foreign trade deficit excluding energy products and non-monetary gold was 2 billion 462 million dollars in February. Foreign trade volume decreased by 3.1% and amounted to 37 billion 502 million dollars. In the said month, the ratio of exports to imports excluding energy and gold was 87.7 percent.
Foreign trade deficit increased by 51.4% in February
In February, the foreign trade deficit increased by 51.4 percent compared to the same month of the previous year and increased from 7 billion 980 million dollars to 12 billion 79 million dollars. While the ratio of exports to imports was 71.4 percent in February 2022, it decreased to 60.7 percent in February 2023.
Germany was the country with the most exports in February
Germany took the first place in exports in February. While exports to Germany amounted to 1 billion 697 million dollars, Germany was followed by Italy with 1 billion 119 million dollars, the USA with 1 billion 86 million dollars, the Russian Federation with 1 billion 13 million dollars, and the United Kingdom with 851 million dollars, respectively. Exports to the top 5 countries accounted for 30.9 percent of total exports.
Germany took the first place in exports in the January-February period. While exports to Germany amounted to 3 billion 523 million dollars, this country was followed by the USA with 2 billion 269 million dollars, the Russian Federation with 2 billion 55 million dollars, Italy with 2 billion 34 million dollars and the United Kingdom with 1 billion 804 million dollars, respectively. Exports to the top 5 countries accounted for 30.8 percent of total exports.
Russian Federation took the first place in imports
The Russian Federation took the first place in imports. In February, imports from the Russian Federation amounted to 4 billion 214 million dollars, while this country was followed by Switzerland with 3 billion 526 million dollars, China with 3 billion 103 million dollars, Germany with 2 billion 80 million dollars, Italy with 1 billion 163 million dollars, respectively. Imports from the top 5 countries accounted for 45.9 percent of the total imports.
In the January-February period, the Russian Federation took the first place in imports. While the imports from the Russian Federation amounted to 9 billion 216 million dollars, this country was followed by Switzerland with 7 billion 863 million dollars, China with 6 billion 660 million dollars, Germany with 3 billion 888 million dollars, the USA with 2 billion 296 million dollars, respectively. Imports from the top 5 countries accounted for 46.5 percent of the total imports.
According to the seasonal and calendar adjusted series, exports decreased by 8.1 percent.
Due to the earthquake disaster, a methodological application was carried out to adjust the economic data from seasonal and calendar effects. Details regarding the application are given in the model table in the 'Seasonal Correction' heading in the 'Metadata' section.
According to the seasonal and calendar adjusted series; In February 2023, exports decreased by 8.1 percent and imports by 8.5 percent compared to the previous month. According to the calendar adjusted series; In February 2023, exports decreased by 6.4 percent compared to the same month of the previous year, while imports increased by 10.2 percent.
The share of high-tech products in manufacturing industry exports was 3.6 percent
Foreign trade data by technology intensity covers manufacturing industry products included in ISIC Rev.4 classification. According to ISIC Rev.4 in February, the share of manufacturing industry products in total exports was 94.4 percent. The share of high technology products in the export of manufacturing industry products is 3.6 percent. According to ISIC Rev.4, the share of manufacturing industry products in total exports in the January-February period is 94.0 percent. In the January-February period, the share of high technology products in the export of manufacturing industry products was 3.3 percent.
In February, the share of manufacturing industry products in total imports was 77.1 percent. The share of high technology products in the import of manufacturing industry products is 9.9 percent. In the January-February period, the share of manufacturing industry products in total imports was 75.2 percent. In the January-February period, the share of high technology products in the imports of manufacturing industry products was 9.9 percent.
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