Turkey Trade Deficit Widens 14.8% YoY in May

In May, Turkey´s foreign trade deficit increased to $9893 million, from $8619 million in May of 2012. Exports rose 1.4 percent yoy to $13316 million and imports grew 6.7 percent yoy to $23209 million.

As compared with the same month of the previous year, exports to the EU were increased by 8.9 percent to $5187 million. The proportion of the EU countries was 39 percent in May 2013 while it was 36.3 percent in May 2012. 

In May 2013, the main partner country for exports was Germany with $1104 million and increased by 2.9 percent. For exports, Germany was followed by Iraq ($1007 million), the United Kingdom ($686 million) and Italy ($577 million). For May 2013, “vehicles other than railway or tramway rolling-stock, parts thereof” has the highest value exported at $1458 million and then, “boilers, machinery and mechanical appliances, parts thereof” ($1173 million), “iron and steel” ($940 million) and “electrical machinery and equipment” ($826 million).

In May 2013, the top country for Turkey’s imports was China ($2201 million), records for imports range from Germany ($2148 million), Russian Federation ($1711 million) and Switzerland ($1469 million). At the same period, the top categories for imports were “mineral fuels and oils” ($4951 million) and then “boilers, machinery and mechanical appliances” ($2791 million), “precious stones, precious metals, pearls and articles thereof” ($2219 million) and “vehicles other than railway or tramway rolling-stock, parts thereof” ($1582 million). 

Turkstat | Duarte Ricardo | duarte.ricardo@tradingeconomics.com
6/28/2013 12:18:34 PM