BY BESTENIGAR KARA
The overall export unit value index (UVI) increased by 6.5% and the overall import UVI jumped 42.7% in January, compared to the same month last year, according to the Turkish Statistical Institute. The overall export UVI for food increased 5.1%, for beverages and tobacco by 21.4%, for crude materials (except fuels) by 56.8%, and fuels and manufactured goods (except food, beverages and tobacco) by 4.2%. The overall import UVI surged by 19.1%, 35.5%, 217.0%, and 12.8% for food, beverages and tobacco, crude materials (except fuels), fuels and manufactured goods (except food, beverages and tobacco), respectively. The overall export volume index (VI) increased by 10.0% and the overall import VI rose by 8.1% in the same period. The overall export VI for fuels dropped by 4.4% while the index for food rose by 16.7%, for beverages and tobacco by 23.3%, crude materials and manufactured goods by 13.0%. The overall import VI surged by 9.0%, 12.4%, 6.1%, and 14.5% for food, beverages and tobacco, crude materials (except fuels), fuels and manufactured goods (except food, beverages and tobacco), respectively. The terms of trade dropped by 24.7 points from 97.5 points to 72.8 points in the same period. Any figure below 100 means export prices are lower than import prices.
