Exports increase by 9.6% to USD 16 bn in February

Turkey’s exports increased by 9.6% on an annual basis to reach USD16 bn in February, Turkish Statistical Institute (TurkStat) announced Wednesday.

Turkey’s imports last month went up 9.4% to reach USD 19.3 bn, bringing the foreign trade deficit to USD 3.29 bn, up by 8.7%, TurkStat said.

The export-import coverage ratio was 82.9% in February, up from 82.8% in the previous year.

“Foreign trade deficit, excluding energy products and non-monetary gold, was USD 224 m in February 2021,” the institute noted.

In the month, the manufacturing industries products took the lion’s share from overall exports with 94.2%, followed by agriculture-forestry-fishing with 3.6% and mining-quarrying with 1.8%.

While Germany was the main destinations of the Turkish exports with a share of 9.4%, China was the main source of Turkey’s imports with a share of 11.6% in February.

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