According to TÜİK data, the foreign trade deficit increased by 10.8 percent in June compared to the same month of the previous year, from 5 billion 298 million dollars to 5 billion 871 million dollars.
While the export-import coverage ratio was 79.7 percent in June 2023, it decreased to 76.4 percent in June 2024.
Foreign trade deficit decreased by 30.5 percent in the January-June period
In the January-June period, the foreign trade deficit decreased by 30.5 percent from 61 billion 325 million dollars to 42 billion 591 million dollars. While the export-import coverage ratio was 66.8 percent in the January-June period of 2023, it increased to 74.8 percent in the same period of 2024.
According to the general trade system, exports decreased by 8.3 percent and imports by 4.4 percent in June
According to the provisional foreign trade data produced within the scope of the general trade system in cooperation with the Turkish Statistical Institute and the Ministry of Trade; exports decreased by 8.3 percent in June 2024 compared to the same month of the previous year, reaching 19 billion 49 million dollars, while imports decreased by 4.4 percent, reaching 24 billion 920 million dollars.
Exports increased by 2.6 percent and imports decreased by 8.4 percent in the January-June period
According to the general trade system, exports increased by 2.6 percent in the January-June period of 2024 compared to the same period of the previous year, reaching 126 billion 278 million dollars, while imports decreased by 8.4 percent, reaching 168 billion 869 million dollars.
Exports excluding energy products and gold decreased by 9.4 percent and imports by 2.7 percent in June
Exports, excluding energy products and non-monetary gold, decreased by 9.4 percent in June 2024, from 19 billion 404 million dollars to 17 billion 584 million dollars.
Imports excluding energy products and non-monetary gold decreased by 2.7 percent in June, from 19 billion 853 million dollars to 19 billion 308 million dollars.
The foreign trade deficit, excluding energy products and non-monetary gold, was 1 billion 725 million dollars in June. Foreign trade volume decreased by 6.0 percent to 36 billion 892 million dollars. The export-import coverage ratio, excluding energy and gold, was 91.1 percent in the month in question.
Germany was the country with the highest exports in June
Germany ranked first in exports in June. Exports to Germany were $1 billion 555 million, followed by the USA with $1 billion 287 million, the UK with $1 billion 59 million, Italy with $984 million, and Iraq with $853 million. Exports to the top 5 countries accounted for 30.1 percent of total exports.
In the January-June period, Germany ranked first in exports. Exports to Germany were $10 billion 201 million, followed by the USA with $7 billion 785 million, the UK with $6 billion 962 million, Italy with $6 billion 454 million and Iraq with $6 billion 241 million. Exports to the top 5 countries accounted for 29.8 percent of total exports.
China ranked first in imports
China ranked first in imports. While imports from China in June were $3 billion 394 million, this country was followed by the Russian Federation with $2 billion 948 million, Germany with $1 billion 930 million, the USA with $1 billion 190 million, and Italy with $1 billion 169 million. Imports from the top 5 countries accounted for 42.7 percent of total imports.
Russia ranked first in imports in the January-June period. While imports from the Russian Federation amounted to 22 billion 41 million dollars, this country was followed by China with 21 billion 281 million dollars, Germany with 12 billion 765 million dollars, Italy with 9 billion 675 million dollars, and the USA with 8 billion 135 million dollars. Imports from the first 5 countries constituted 43.8 percent of total imports.
