NEWS ECONOMY NEWS        04/04/2019

Turkey’s foreign trade deficit is USD 2.1 billion in March 2019 per preliminary calculations

According to preliminary figures provided by the Trade Ministry based on the Special Trade System (STS), Turkey’s foreign trade deficit for March 2019 was USD 2,141 million, 63.6% lower than the figure for the same month of the previous year, and 0.3% higher than the USD 2,134 million deficit figure for the previous month of February 2019.

 

Exports were USD 15,488 million in March 2019, 0.4% lower than the figure for the same month of the previous year, but 15.4% higher than the figure for the previous month of February 2019. Imports were USD 17,629 million in March 2019, 17.8% lower than the figure for the same month of the previous year, but 12.1% higher than the figure for the previous month of February 2019.

 

The percentage of imports met by exports was 87.9% in March 2019 compared with 72.6% in the same month of the previous year.

 

Automotive exports were prominent in Turkey’s total exports with USD 2,450 million in March 2019, representing a 7.8% decrease on its figure for the same month of the previous year. The March 2019 automotive export figure was however 15.4% higher than the figure for the previous month of February 2019. The automotive sector’s share of total exports in March 2019 was 15.8% compared with 15.6% in the previous month of February 2019.

 

The energy sector, with USD 3,677 million, again had the biggest share of imports of 20.9% in March 2019. This energy import figure was also 9.7% higher than the figure for the same month of the previous year.

 

The top five countries to which Turkey exported in March 2019 are Germany (USD 1,388 million), UK (USD 853 million), Italy (USD 840 million), Iraq (USD 782 million), and Spain (USD 768 million). The top five countries from which Turkey imported in March 2019 are Russia (USD 1,965 million), Germany (USD 1,620 million), China (USD 1,404 million), USA (USD 963 million), and Italy (USD 702 million).

 

 

According to preliminary figures provided by the Trade Ministry based on the General Trade System (GTS), Turkey’s foreign trade deficit for March 2019 was USD 1,966 million, 67.3% lower than the figure for the same month of the previous year, but 12.5% higher than the USD 1,748 million deficit figure for the previous month of February 2019.

 

Exports were USD 16,334 million in March 2019, 0.5% higher than the figure for the same month of the previous year, and 14.2% higher than the figure for the previous month of February 2019. Imports were USD 18,299 million in March 2019, 17.8% lower than the figure for the same month of the previous year, and 14% higher than the figure for the previous month of February 2019.

 

The percentage of imports met by exports was 89.3% in March 2019 compared with 73% in the same month of the previous year.

 

Automotive exports were prominent in Turkey’s total exports with USD 2,529 million in March 2019, representing a 7.1% decrease on its figure for the same month of the previous year. The March 2019 automotive export figure was however 15.4% higher than the figure for the previous month of February 2019. The automotive sector’s share of total exports in March 2019 was 15.5% compared with 15.3% in the previous month of February 2019.

 

The energy sector, with USD 3,742 million, again had the biggest share of imports of 20.4% in March 2019. This energy import figure was also 6.9% higher than the figure for the same month of the previous year.

 

The top five countries to which Turkey exported in March 2019 are Germany (USD 1,504 million), UK (USD 899 million), Iraq (USD 894 million), Italy (USD 878 million), and Spain (USD 817 million). The top five countries from which Turkey imported in March 2019 are Russia (USD 2,069 million), Germany (USD 1,698 million), China (USD 1,426 million), USA (USD 1,020 million), and Italy (USD 791 million).

 

 


 



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