According to data shared by the Ministry of Trade and the Turkish Exporters' Assembly (TIM), exports in June fell by 10.6% to 18 billion 569 million dollars, while imports decreased by 4.1% to 25 billion 4 million dollars. For the period from January to June 2024, exports increased by 2%, reaching 125 billion 446 million dollars, and imports decreased by 8.5% to 168 billion 686 million dollars.
In June, the foreign trade volume decreased by 6.9% compared to the same month last year, to 43 billion 574 million dollars, while in the first half of the year, it decreased by 4.3% to 294 billion 132 million dollars. The coverage ratio of exports to imports decreased by 5.4 percentage points to 74.3% in June, and for the January-June period, it stood at 74.4%.
In June, the foreign trade deficit increased by 21.4% to 6.4 billion dollars, while in the six-month period, the foreign trade deficit decreased by 29.5% to 43.2 billion dollars.
"A temporary decline in exports due to calendar effects"
In the evaluation made by the Ministry of Trade regarding June, it was stated that in addition to the 9-day holiday period in June, the fact that there were 5 weekends when exports were low, the absence of the two business days with the highest exports during the week except for the holiday week was cited as the reason for the decline. Stating that a temporary decline in exports was experienced due to calendar effects, the Ministry of Trade said, "It is observed that the downward trend in imports continues. As the Ministry of Trade, we are actively continuing our efforts to direct our exports to high value-added and high-tech sectors, diversify the goods and services exported, and protect our domestic producers and therefore our exports against unfair competition and damage caused by imports."
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