The Turkish Statistical Institute (TurkStat) announced on Tuesday that both export and import indices recorded year-on-year growth in March 2025, signaling modest improvement in Türkiye’s external trade performance.

While unit value and volume indices for exports and imports generally posted gains, changes varied across sectors, with notable declines in some categories like fuels and crude materials.

The export unit value index, which measures the average price level of exported goods, rose by 1.8% compared to March 2024. The most significant price increases were recorded in the food, beverages, and tobacco category with a 9.3% rise, followed by a 2.2% increase in crude materials (excluding fuels) and a 1.6% rise in manufactured goods (excluding food, beverages, and tobacco). However, fuel exports saw a sharp 15.4% decline in unit value, reflecting continued weakness in global energy markets.

The export volume index, which tracks the quantity of goods shipped abroad, increased by 1.5% year-on-year. The growth was driven mainly by a 2.0% rise in manufactured goods exports, despite a 6.3% drop in food, beverages, and tobacco exports and a 4.1% decrease in crude materials. Fuel export volume also declined, falling 1.1% compared to March 2024.

On the import side, the unit value index climbed by 1.3% in March. This growth was led by a sharp 16.2% increase in the food, beverages, and tobacco category and a 1.2% rise in fuels. However, prices of crude materials (excluding fuels) fell by 4.3%, while manufactured goods declined 1.4%.

The import volume index showed a more modest increase of 0.8% year-on-year. Fuel imports surged by 5.1%, while food, beverages, and tobacco imports grew 8.0%. In contrast, crude material imports dropped by 7.3%, showing continued contraction in demand or supply in that category.

In seasonally and calendar-adjusted terms, Türkiye's export volume index rose by 4.4% month-on-month, reaching 160.6 in March, up from 153.9 in February. The calendar-adjusted index also posted a solid 5.7% annual growth. Meanwhile, the import volume index rose by 2.8% month-on-month, reaching 131.6, with an annual increase of 4.0% from March 2024.

Türkiye’s terms of trade — the ratio of export prices to import prices — stood at 87.7 in March 2025, up slightly from 87.3 a year earlier. While still below the parity point of 100, this slight increase reflects a minor improvement in Türkiye’s purchasing power in international trade. (ILKHA)