Foreign trade deficit rose by 22.3 percent in August

According to preliminary data announced by TUIK and the Ministry of Trade, Turkey's foreign trade deficit increased by 22.3 percent compared to the same month of the previous year, rising to 5 billion 239 million dollars in August.

Export and Import Figures

According to the general trade system, exports increased by 8.1 percent in August compared to the same month of the previous year, reaching 23 billion 467 million dollars.

In the same period, imports recorded an increase of 10.5 percent, being recorded at 28 billion 706 million dollars.

January-August Period Developments

In the first eight months of the year, exports rose by 4 percent to 184 billion 996 million dollars, while imports increased by 5.3 percent to 250 billion 790 million dollars.

During this period, the foreign trade deficit increased by 9.3 percent, rising to 65 billion 793 million dollars.

Data Excluding Energy and Gold

When energy products and non-monetary gold were excluded, exports rose by 2.7 percent in August to 20 billion 831 million dollars.

In the same period, imports excluding energy and gold increased by 9.6 percent to reach 21 billion 919 million dollars.

Sectoral Distribution and Shares

In August, the share of manufacturing industry products in total exports stood at 93.6 percent.

As for imports, the share of intermediate goods was 70.7 percent, consumer goods was 15.5 percent, and capital goods was 13.5 percent.

Top Export Destinations

In August, the highest amount of exports was realized to Germany with 1 billion 760 million dollars.

Germany was followed by the USA, the United Kingdom, Iraq, and Switzerland, respectively.

Top Import Sources

In August, China took the first place in imports with 4 billion 706 million dollars.

China was followed by Germany, the Russian Federation, the USA, and Italy, respectively.