Turkey's exports increased by 12 percent

Turkey's exports increased by 12 percent

The Turkish Statistical Institute [Turkstat] announced Friday foreign trade statistics for May of this year. Accordingly, exports rose 12.1 percent, while imports declined by 19.3 percent.

According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Trade, in May 2019; exports were 15 billion 981 million dollars with a 12.1%  increase and imports were 17 billion 819 million dollars with a 19.3% decrease compared with May 2018.

In May 2019 foreign trade deficit was 1 billion 838 million dollars with a 76.5% decrease compared with May 2018. In May 2019, exports coverage imports were 89.7% while it was 64.6% in May 2018.

Seasonally and calendar adjusted exports increased by 8.1% while imports decreased by 4.1% compared with the previous month. Calendar adjusted exports increased by 12% while imports decreased by 19.7% compared with May 2018.

In May 2019, the main partner country for exports was Germany with 1 billion 467 million dollars.

Italy with 857 million dollars, the United Kingdom with 853 million dollars and the USA with 784 million dollars followed Germany.

The top country for Turkey's imports was Russia with 1 billion 890 million dollars. The country was followed by China with 1 billion 623 million dollars, Germany with 1 billion 619 million dollars and the USA with 1 billion 3 million dollars.

Foreign trade by technology intensity covers the manufacturing industries' products in the classification of ISIC Rev.3. According to the ISIC Rev.3, the ratio of manufacturing industries products in total exports was 94.8% in May.

The ratio of high-technology products in manufacturing industries was 3.4%. The ratio of manufacturing industries' products in total imports was 75.2%. The ratio of high-technology products in manufacturing industries' products was 15% in May 2019.

According to the general trade system in May 2019, exports were 16 billion 803 million dollars with an 11.4% increase and imports were 18 billion 541 million dollars with a 20.1% decrease compared with May 2018. Exports coverage imports were 90.6% in May 2019.

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