NEWS ECONOMY NEWS        04/05/2019

Turkey’s foreign trade deficit is USD 3 billion in April 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 April 2019 was USD 2,971 million, 55.7% lower than the figure for the same month of the previous year, but 39% higher than the USD 2,137 million deficit figure for the previous month of March 2019.

 

Exports were USD 14,494 million in April 2019, 4.7% higher than the figure for the same month of the previous year, but 6.4% lower than the figure for the previous month of March 2019. Imports were USD 17,464 million in April 2019, 15% lower than the figure for the same month of the previous year, and 0.9% lower than the figure for the previous month of March 2019. 

 

The percentage of imports met by exports was 83% in April 2019 compared with 67.4% in the same month of the previous year.

 

Automotive exports were prominent in Turkey’s total exports with USD 2,202 million in April 2019, representing a 11.8% decrease on its figure for the same month of the previous year. The April 2019 automotive export figure was also 10.2% lower than the figure for the previous month of March 2019. The automotive sector’s share of total exports in April 2019 was 15.2% compared with 15.8% in the previous month of March 2019.

 

The energy sector, with USD 3,514 million, again had the biggest share of imports of 20.1% in April 2019. This energy import figure was also 12.7% higher than the figure for the same month of the previous year.

 

The top five countries to which Turkey exported in April 2019 are Germany (USD 1,247 million), UK (USD 822 million), Italy (USD 779 million), Iraq (USD 755 million), and USA (USD 735 million). The top five countries from which Turkey imported in April 2019 are Russia (USD 1,863 million), China (USD 1,457 million), Germany (USD 1,454 million), USA (USD 931 million), and Italy (USD 759 million).

 

According to preliminary figures provided by the Trade Ministry based on the General Trade System (GTS), Turkey’s foreign trade deficit for April 2019 was USD 2,831 million, 57.8% lower than the figure for the same month of the previous year, but 45.6% higher than the USD 1,944 million deficit figure for the previous month of March 2019.

 

Exports were USD 15,273 million in April 2019, 5.4% higher than the figure for the same month of the previous year, but 6.3% lower than the figure for the previous month of March 2019. Imports were USD 18,104 million in April 2019, 14.6% lower than the figure for the same month of the previous year, and 0.8% lower than the figure for the previous month of March 2019.

 

The percentage of imports met by exports was 84.4% in April 2019 compared with 68.3% in the same month of the previous year.

 

Automotive exports were prominent in Turkey’s total exports with USD 2,273 million in April 2019, representing a 11.5% decrease on its figure for the same month of the previous year, and a 10.1% decrease on its figure for the previous month of March 2019. The automotive sector’s share of total exports in April 2019 was 14.9% compared with 15.5% in the previous month of March 2019.

 

The energy sector, with USD 3,699 million, again had the biggest share of imports of 20.4% in April 2019. This energy import figure was also 15.9% higher than the figure for the same month of the previous year.

 

The top five countries to which Turkey exported in April 2019 are Germany (USD 1,347 million), UK (USD 857 million), Iraq (USD 856 million), Italy (USD 815 million), and USA (USD 806 million). The top five countries from which Turkey imported in April 2019 are Russia (USD 1,892 million), Germany (USD 1,561 million), China (USD 1,496 million), USA (USD 995 million), and Italy (USD 840 million).

 



Turkey’s net minimum wage has been raised 26.05% to TL 2,020 (USD 381) as of 01.01.2019       Migration communication helpline 157 available for foreigners in Turkey       Read our homepage articles on developments in the Turkish economy       Turkey’s annual inflation rate steadies at 19.50% in April 2019       Turkey’s unemployment rate remains at 14.7% in February 2019       Read our BUSINESS section for latest sectoral and corporate news       Turkey’s population is 82,003,882 as of 2018 yearend       Number of foreigners visiting Turkey in 2018 increases by 21.8% to 39.5 million       Turkey’s private sector foreign debt is USD 225.8 billion as of 2018 yearend       Turkey’s economy contracted by 3% in the fourth quarter of 2018