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TÜİK announced the foreign trade indices for December 2024

The Turkish Statistical Institute (TÜİK) has announced the foreign trade indices for December 2024. According to the data, the export unit value index increased by 1.0%, while the export volume index increased by 1.1%. The import unit value index increased by 0.7%, and the import volume index increased by 10.2%.

TÜİK announced the foreign trade indices for December 2024

Changes in the Export and Import Indices 

The export unit value index increased by 1.0% in December 2024 compared to the same month of the previous year, with a increase of 8.3% in the food, beverages, and tobacco sector, and a 7.6% increase in raw materials (excluding fuels). However, the fuels sector decreased by 5.9%, and the manufacturing industry (excluding food, beverages, and tobacco) saw a decrease of 0.3%. 

The export volume index increased by 1.1% in December compared to the same month of the previous year. However, there was a decline of 7.0% in food, beverages, and tobacco products, a 7.3% decrease in raw materials (excluding fuels), and an 8.0% decrease in fuels. The manufacturing industry experienced a 4.8% increase. 

Developments in the Import Indices 

The import unit value index increased by 0.7% in December compared to the same month of the previous year. While there was a 5.0% increase in food, beverages, and tobacco products, the fuels sector saw a 4.3% decrease, raw materials (excluding fuels) increased by 2.6%, the manufacturing industry experienced a 3.6% decrease. 

The import volume index increased by 10.2% in December. While food, beverages, and tobacco products saw a 5.5% decrease, raw materials (excluding fuels) increased by 8.3%, and fuels increased by 6.9%. The manufacturing industry, on the other hand, recorded an 18.0% increase. 

Seasonally and Calendar Adjusted Indices 

According to the seasonally and calendar-adjusted series, the export volume index was 151.4 in November 2024, and increased by 3.1% reaching 156.2 in December. However, according to the calendar-adjusted series, the export volume index, which was 170.3 in December 2023, decreased by 2.8% in December 2024 and became 165.5. 

The import quantity index, which was 126.3 in November, increased by 1.6% in December and increased to 128.4. According to the calendar-adjusted series, the import quantity index, which was 128.3 in December 2023, increased by 6.9% in December 2024 and became 137.2. 

The Foreign Trade Index is 85.0 

The foreign trade index, calculated by dividing the export unit value index by the import unit value index, was 84.8 in December 2023, and increased by 0.2 points to 85.0 in December 2024. 

These figures reflect the developments in Türkiye's foreign trade and the differences between sectors. 

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