Foreign trade deficit increased to $8 billion 756 million in November

SHAFAQNA TURKEY – The interim foreign trade data for November, which was created in cooperation with the Turkish Statistical Institute and the Ministry of Commerce, has been released.

Accordingly, within the framework of the Common Trading System (GTS), exports in November increased by 2.1 percent compared to the same month of the previous year, reaching $21 billion 900 million, while imports increased by 14 percent to $30 billion 656 million. .

The foreign trade deficit in November increased by 60.7 percent compared to the same month of the previous year and reached $8.756 billion.

The export-to-import ratio dropped from 79.8% in November 2021 to 71.4% last month.

In January-November, exports increased by 13.9 percent compared to the same period of the previous year and reached $231 billion 295 million, while imports increased by 36.6 percent to $331 billion 100 million.

The foreign trade deficit increased in January-November by 153.4 percent to $99 billion 805 million.

If in January-November 2021 the ratio of exports and imports was 83.8 percent, then in the same period of the current year it decreased to 69.9 percent.

Foreign trade excluding energy and gold

Exports excluding energy resources and non-monetary gold in November increased by 3.1 percent from $19 billion 862 million to $20 billion 471 million. In November, imports excluding energy resources and non-monetary gold increased by 0.4 percent from $20 billion 206 million to $20 billion 295 million.

The positive balance of foreign trade excluding energy resources and non-monetary gold in November amounted to $175 million. The volume of foreign trade increased by 1.7 percent and reached $40 billion 766 million. In this month, the ratio of exports and imports, excluding energy and gold, was 100.9 percent.

In the analysis of economic activity, the share of the manufacturing industry in November was 94.2 percent, the share of agriculture, forestry and fisheries – 3.7 percent, and the share of the mining sector – 1.6 percent.

According to the economic activity data for January-November, the share of manufacturing in exports amounted to 94.6 percent, the share of agriculture, forestry and fisheries – 3 percent, the share of the mining sector – 1.8 percent. .

According to the classification of broad economic groups, the share of intermediate goods in imports in November was 77.3 percent, the share of capital goods – 12.1 percent, the share of consumer goods – 10.4 percent.

In January-November, the share of intermediate goods amounted to 80.9%, capital goods – 10.9%, consumer goods – 8.2%.

Germany ranks first in exports, Russia first in imports

In November, Germany ranked first in exports with $1 billion 859 million. This country is followed by the USA with $1 billion 447 million, Iraq with $1 billion 302 million, Russia with $1 billion 156 million and Italy with $1 billion 78 million. Exports to the first 5 countries in November amounted to 31.2 percent of total exports.

Between January and November, Germany ranked first in exports. 19 billion 339 million dollars were exported to this country. Germany is followed by the USA with $15 billion 502 million, Iraq with $12 billion 602 million, Great Britain with $11 billion 946 million and Italy with $11 billion 306 million. During this period, exports to the first 5 countries accounted for 30.6 percent of total exports.

Russia ranked first in terms of imports. In November, imports from this country amounted to 4 billion 681 million dollars. Russia is followed by China with $3 billion 121 million, Germany with $2 billion 236 million, Switzerland with $2 billion 215 million and Italy with $1 billion 217 million. Imports from the top 5 countries in November amounted to 43.9 percent of total imports.

In January-November, Russia occupied the first place in terms of imports. 54 billion 308 million dollars were imported from this country. Russia is followed by China with $37 billion 712 million, Germany with $21 billion 564 million, the USA with $14 billion 45 million and Switzerland with $12 billion 873 million. Imports from the first 5 countries for 11 months of the year amounted to 42.4 percent of the total imports.

According to seasonally and calendar adjusted series, exports decreased by 0.4% and imports by 0.4% in November compared to the previous month. According to the calendar adjusted series, exports increased by 2.2 percent and imports by 14.4 percent in November compared to the same month of the previous year.

Depending on manufacturability, foreign trade data covers manufactured products included in the ISIC Rev.4 classification. According to the November ISIC Rev.4, the share of manufacturing products in total exports amounted to 94.2 percent. The share of high-tech products in the export of manufacturing products was fixed at 3.7 percent.

According to ISIC Rev.4, the share of manufacturing products in total exports for the period from January to November was 94.6 percent. In January-November, the share of high-tech products in manufacturing products amounted to 3 percent.

In November, the share of manufacturing products in total imports amounted to 75.8 percent. The share of high-tech products in the import of manufacturing products amounted to 9.8 percent.

In January-November, the share of manufacturing products in the total volume of imports amounted to 71.4 percent. In January-November, the share of high-tech products in imports of manufacturing products was fixed at 9.7 percent.

Data from the private trading system

According to the Special Trading System, in November, exports decreased by 1.3 percent compared to the same month of the previous year and amounted to $20 billion 58 million, while imports increased by 9.1 percent to $28 billion 299 million.

In November, the foreign trade deficit increased by 46.7 percent from $5 billion 616 million to $8 billion 240 million. If in November 2021 the ratio of exports and imports was 78.3 percent, then last month it decreased to 70.9 percent.

According to the Special Trading System, exports in January-November increased by 11.4 percent compared to the same period of the previous year and reached $214 billion 476 million, while imports increased by 33.5 percent to $311 billion 463 million.

In January-November, the foreign trade deficit increased by 137.8 percent from $40 billion 793 million to $96 billion 987 million. If in January-November 2021 the ratio of exports and imports was 82.5 percent, then over the same period of the current year it decreased to 68.9 percent.