Türkiye's Exports Climbed To $231 Billion In 11 Months
(MENAFN- Trend News Agency) In the first 11 months of 2022, Türkiye's exports amounted to
$231 billion, rising 13.9 percent from the same period of last
year, data from the Turkish Statistical Institute (TÜİK) have
shown, trend reports
citing hurriyet daily news .
The country's export increased by 2.1 percent in November from a
year ago to stand at $21.9 billion.
Imports grew 14 percent on an annual basis to reach $30.7
billion.
Consequently, the country's foreign trade balance posted a deficit
of $8.76 billion, increasing by nearly 61 percent compared with
November 2021.
The export-import coverage ratio declined from 79.8 percent a
year ago to 71.4 percent last month.
Excluding energy and gold imports, Türkiye's imports exhibited
an annual increase of 0.4 percent to $20.3 billion.
“The foreign trade surplus, excluding energy products and
non-monetary gold, was $175 million in November. Excluding energy
products and non-monetary gold imports, the export-import coverage
ratio was 100.9 percent,” TÜİK said.
As was the case in the previous months, Germany was Türkiye's
largest export market in November. Data from TÜİK showed that
exports to Germany amounted to $1.86 billion. The U.S. ranked
second in the top exports market list at $1.45 billion, followed by
Iraq at $1.3 billion.
Exports to Russia and the U.K. amounted to $1.16 billion and $1
billion, respectively.
The share of the top five countries in Türkiye's overall exports
was 31.2 percent in November.
The manufacturing sector accounted for 94.2 percent of all
exports, while the agriculture sector's share was 3.7 percent and
the mining and quarry's 1.6 percent.
Imports from Russia stood at $4.68 billion, China came second at
$3.1 billion. Last month Türkiye imported $2.24 billion worth of
goods from Germany and imports from Switzerland amounted to $2.2
billion.
Imports from Italy were $1.2 billion.
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