The Turkish Statistical Institute announced on Monday that the overall export unit value index increased by 1.3% in November compared to the same month in the previous year.

The data revealed a varied performance across different sectors, with a 0.1% rise in manufactured goods (excluding food, beverages, and tobacco), a substantial 12.3% increase in food, beverages, and tobacco, a 5.0% increase in crude materials (excluding fuels), and a notable 10.1% decrease in fuels.

Conversely, the overall export volume index experienced a decline, decreasing by 4.1% in November compared to the corresponding month of the preceding year. Notably, the index for food, beverages, and tobacco fell by 12.0%, crude materials (excluding fuels) by 0.7%, and fuels by a significant 16.3%, while manufactured goods (excluding food, beverages, and tobacco) saw a modest increase of 1.4%.

On the import front, the overall import unit value index rose by 3.3% in November compared to the previous year. Sector-specific changes included a 6.2% increase in food, beverages, and tobacco, a 1.6% decrease in fuels, a 4.6% rise in crude materials (excluding fuels), and a 0.9% increase in manufactured goods (excluding food, beverages, and tobacco).

The overall import volume index showed a slight decrease of 0.4% in November year-on-year. The index for food, beverages, and tobacco dropped by 4.6%, while crude materials (excluding fuels) and fuels saw increases of 9.1% and 10.6%, respectively. Manufactured goods (excluding food, beverages, and tobacco) experienced a minor decline of 0.7%.

Additionally, the calendar and seasonally adjusted export volume index increased by 3.5% from October to November 2024, reaching 151.2, while the calendar-adjusted export volume index decreased by 0.2% from November 2023 to November 2024, settling at 156.6.

The calendar and seasonally adjusted import volume index also rose by 0.9% from October to November 2024, reaching 126.2, and the calendar-adjusted import volume index saw a 2.7% increase from November 2023 to November 2024, reaching 125.5.

Finally, the terms of trade, calculated by dividing the export unit value index by the import unit value index and multiplying by 100, stood at 84.9 in November 2024, down from 86.5 in November 2023. (ILKHA)