Exports increased while imports decreased, Turkstat
Turkstat announced Friday that exports increased by 13% while imports decreased by 23.8% as foreign trade statistics in October 2018, in Turkiye.
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Trade, in October 2018; exports were 15 billion 719 million dollars with a 13% increase and imports were 16 billion 176 million dollars with a 23.8% decrease compared with October 2017.
Foreign trade deficit decreased by 93.8%
In October 2018 foreign trade deficit was 456 million dollars with a 93.8% decrease compared with October 2017.
In October 2018, exports coverage imports were 97.2% while it was 65.6% in October 2017.
Seasonally and calendar adjusted exports decreased by 1.5%
Seasonally and calendar adjusted exports and imports decreased by 1.5% and 6.9%, respectively compared with the previous month. Calendar adjusted exports increased by 9.7% while imports decreased by 24.2% compared with October 2017.
Exports to the European Union increased by 13.8%
As compared with the same month of the previous year, exports to the EU-28 increased by 13.8% from 6 billion 877 million dollars to 7 billion 825 million dollars. The proportion of the EU countries was 49.8% in October 2018 while it was 49.4% in October 2017.
The main partner for exports was Germany
In October 2018, the main partner country for exports was Germany with 1 billion 457 million dollars. The country was followed by the United Kingdom with 1 billion 68 million dollars, Italy with 877 million dollars and Iraq with 852 million dollars.
The top country for imports was Russia
In October 2018, the top country for Turkiye's imports was Russia with 1 billion 865 million dollars. The country was followed by Germany with 1 billion 559 million dollars, China with 1 billion 366 million dollars and the USA with 883 million dollars.
The ratio of exports of high-tech products in manufacturing industries was 3.5%
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 93.7% in October.
The ratio of high-technology products in manufacturing industries was 3.5%. The ratio of medium-high-technology products in manufacturing industries' products was 36%.
The ratio of imports of high-tech products in manufacturing industries was 13.3%
The ratio of manufacturing industries' products in total imports was 75.5%. The ratio of high-technology products in manufacturing industries' products was 13.3% in October 2018. The ratio of medium-high-technology products in manufacturing industries' products was 42.8%. (ILKHA)