Turkey Trade Deficit Widens in January

According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade in January 2013, exports increased by 11.2 percent and reached to $11,509 million and imports increased by 7.6 percent and reached to $18,800 million compared with January 2012.

At the same month, foreign trade deficit increased from $7.12 billion to $7.29 billion. Calendar adjusted exports and imports increased by 7.9 percent and 7.6 percent compared with January 2012. Seasonally and calendar adjusted exports and imports increased by 2.0 percent and 9.0 percent compared with previous month. 

As compared with the same month of the previous year, exports to the EU were $4.83 billion, increased by 7.2 percent. The proportion of the EU countries was 41.9 percent in January 2013 while it was 43.5 percent in January 2012.
For January 2013, “vehicle other than railway or tramway rolling-stock, parts thereof” has by far the highest value exported at $1.08 billion and then, “boilers, machinery and mechanical appliances, parts thereof” ($921 million), “iron and steel” ($843 million) and “knitted and crocheted goods and articles thereof” (717 million).
At the same period, the top categories for imports were “mineral fuels and oils” ($4.60 billion) and then “boilers, machinery and mechanical appliances” ($2.23 billion), “iron and steel” ($1.47 billion) and “electrical machineries and equipments” ($1.29 billion).
In January 2013 exports coverage imports was 61.2 percent while it was 59.2 percent in January 2012.

Turkstat | Nuno Fontes | nuno@tradingeconomics.com
2/28/2013 9:06:32 AM