BY ALAATTIN AKTAS Turkey’s annual foreign trade deficit (FTD), which totaled USD 43.5bn in October 2021, rose to USD 58.1bn in February. The monthly FTD, which stood at USD 3.1bn in January 2021, jumped to USD 10.3bn in January 2022. The monthly FTD rose from USD 3.3bn to USD 8.1bn in February year on year....
Tag: exports
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Exports hit all-time high for January
Turkey’s exports hit an all-time high for January with a 17% annual jump to USD 17.6bn, Trade Minister Mehmet Mus announced on Wednesday, citing preliminary data. Imports spiked to USD 28bn last month due to the unexpectedly harsh winter conditions and rising energy prices, Mus said at a news conference in the capital Ankara. Energy...
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Foreign trade deficit at USD 133m in 2021
Turkey’s foreign trade gap was down 7.5% to USD 133m in 2021 — compared to the previous year, according to official figures released on Monday. The country’s exports rose to USD 225.3bn in 2021 with an increase of 32.8%, while its imports increased by 23.6% to USD 271.4bn, TurkStat said. In December, the share of...
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In hope for forever current surplus days: OPINION
Exports were increasing and imports were decreasing earlier this year. Thus, the foreign trade deficit was shrinking and Turkey even showed a trade surplus in October, according to the balance of payments. In addition, tourism income was positive. As a result, we thought that our current account deficit problem was over, or nearly over! But...
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Prices will not weaken competitive power in machinery exports
Turkey’s machinery sector exports surged by 23.3% to USD 23bn in 2021, compared to the previous year, according to the Machinery Exporters’ Association (MAIB). The sector’s exports also rose by 18.3% versus the pre-pandemic year of 2019. “The volume of orders shows that the Turkish machinery sector’s market share in the European Union and the...
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Exports in 2021 reaches USD 225.4bn
Turkey’s exports rose by 32.9% to USD 225.4bn in 2021, compared to the previous year, according to President Recep Tayyip Erdogan. The country’s foreign trade deficit, meanwhile, dropped by 7.8% to USD 45.9bn in the same period. The export/import coverage ratio hit 83.1%. “We’ve achieved our foreign trade volume, which stood at USD 87.6bn in...