The Turkish Exporters Assembly (TM) released export figures for February 2022. In February, the export family set a new record with a remarkable performance. Exports totaled $20 billion in February, representing a 25% rise over the previous year. The report reflected the high interest in export.
However, Turkey has prohibited exporting more than a dozen agricultural products, including vegetable oils, meat, pulses, and some dairy products, since February 2022. TEM replaced the ban on butter exports with a monthly quota on June 26th, and the prohibition of olive oil exports was lifted on July 7th.
According to preliminary data produced by the Turkish Statistical Institute and the Ministry of Trade, exports were 20 billion 4 million dollars in February 2022, a 25.4% increase over February 2021, and imports were 27 billion 885 million dollars, a 44.5% increase over February 2021.
In January-February 2022, exports and imports climbed by 21.4% and 49.2%, respectively.
Exports were 37 billion 580 million dollars, up 21.4% from January to February 2022, and imports were 55 billion 733 million dollars, up 49.2% from January to February 2021.
Turkey's top exports are:
Export to other countries are:
In February 2022, the international trade deficit climbed by 135.5%.
The international trade imbalance in February 2022 was 7 billion 881 million dollars, a 135.5% increase over February 2021. As a result, exports covered imports by 71.7% in February 2022, compared to 82.7% in February 2021.
In January-February 2022, the international trade deficit climbed by 183.3 percent.
The international trade deficit in January-February 2022 was 18 billion 153 million dollars, an increase of 183.3% over January-February 2021. Exports covered imports 67.4% in the same period, whereas it was 82.8% in January-February 2021.
In February 2022, the manufacturing sector's share of total exports was 94.4%.
According to economic activities, the proportions of manufacturing industries goods, agriculture, forestry and fishery, mining, and quarrying in total exports reached 94.4%, 3.4%, and 1.5%, respectively, in February 2022.
According to economic activities, the ratios of products in the manufacturing industry, agriculture, forestry and fishery, mining, and quarrying in total exports were 93.9%, 3.7%, and 1.8%, respectively, in the January-February 2022 period.
Foreign trade data are calculated using two trade systems: general trade and particular trade. The public trade system covers goods entering and exiting a country's economic zone.
In this method, free zones, customs warehouses, and products entering or departing the country's free circulation zone are all included in the calculations.
Customs warehouses and free zones are not included in the statistics in the particular trade system; only items entering and exiting the country's free circulation region are covered.