Foreign trade deficit 2.7 billion dollars

2020-08-31 16:48:22


	 

	ANKARA - The Turkish Statistical Institute has announced the foreign trade figures for July.

	 

	Turkey's exports this July dropped by 5.8 percent to 15 billion dollars, while imports fell 7.9 percent to 17.7 billion dollars on an annual basis, according to the data prepared by the Turkish Statistical Institute (TurkStat) and the Ministry of Trade. 

	 

	The country's trade balance posted a 2.7 billion dollar deficit in July, according to the institute's figures.

	 

	The export-to-import coverage ratio was 84.8 percent in July 2020 versus 82.9 percent in July 2019.

	 

	In the January-July period, the country's exports were 90 billion dollars, dropping 13.7 percent year-on-year, while imports were 116.6 billion dollars, down 3.9 percent.

	 

	The trade deficit was 26.6 billion dollars in the first seven months -- the export-to-import coverage ratio was 77.2 percent.

	 

	Here are highlights from the report:

	 

	Exports, excluding energy products and non-monetary gold, were 14 billion 562 million dollars with a 2.7 percent decrease in July 2020. Imports, excluding energy products and non-monetary gold, were 13 billion 348 million dollars with a 10.5 percent decrease.

	 

	The foreign trade surplus, excluding energy products and non-monetary gold, was 1 billion 214 million dollars in July 2020.

	 

	Foreign trade volume was 29 billion 882 million dollars with a decrease of 6.6 percent. Energy products and non-monetary gold excluded export coverage in imports was 109.1 percent.

	 

	 In July 2020 foreign trade deficit was 2 billion 697 million dollars with an 18.2 percent decrease compared with July 2019. In July 2020, export coverage imports were 84.8 percent while it was 82.9 percent in July 2019.

	 

	In the January-July period, the foreign trade deficit was 26 billion 590 million dollars with a 55.6 percent increase compared with January-July 2019. In the same period, exports coverage imports were 77.2 percent while it was 85.9 percent in January-July 2019.

	 

	In July 2020, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 95.1 percent, 2.8 percent, 1.6 percent, respectively.

	 

	In the January-July period, according to economic activities, the ratios of manufacturing industries products, agriculture, forestry and fishing, mining and quarrying in total exports were 94.4 percent, 3.5 percent, 1.7 percent, respectively.

	 

	In July 2020, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 72.3 percent, 15.3 percent, 12.2 percent, respectively.

	 

	In the January-July period, according to the BEC classification, the ratios of intermediate goods, capital goods and consumption goods in total imports were 75.2 percent, 13.9 percent, 10.6 percent, respectively.