According to the March GTS (General Trade System) foreign trade data announced by TURKSTAT in cooperation with the Ministry of Commerce; Turkey’s exports increased by 42.2% to 18.98 billion USD in March 2021 compared to the same period of the previous year, while imports increased by 25.6% to 23.64 billion USD in the same period. Thus, the foreign trade deficit decreased by 14.9% between March 2020 and March 2021 and reached 4.65 billion USD. The ratio of exports to imports increased from 70.9% to 80.3% in the period in question.
While Germany was the country to which we export the most in March, it is followed by the USA, England and Italy. While exports to 27 countries that make up the European Union increased by 47% to 6.87 billion USD, it is seen that the share of the EU in our total exports increased from 40.1% to 41.4%. In import items; China took the first place in March 2021, followed by Russia, Germany and Italy. In March, while the share of capital goods in total imports increased, the share of intermediate (raw materials) and consumption goods decreased. While the share of high technology products in our total exports was 3.4%, the share of imports of the same group in our total imports was 13.6%.
According to the STS (Special Trade System), Turkey’s exports increased by 42.8% to 18 billion USD in March 2021 compared to the same period of the previous year, while imports increased by 26.8% to 22.77 billion USD in the same period. The ratio of exports to imports was 79% in the said period.
The value of TRY and the speed of economic recovery are the two main components that may affect foreign trade trends in the upcoming period. Depending on the domestic financial conditions and the epidemic effects in the economy, the level of domestic demand will be determined. The rate of increase in exports is also in a direction affected by the parity effect and the economic recovery in the Euro Zone. In this context, the recovery, which will accelerate with the progress of vaccination in our main trade partner Euro Zone countries, will positively affect the increase in exports. A weak TRY may also contribute to the current situation in this process. On the import side, growth continues as domestic demand is maintained at certain levels. Especially on the energy and raw material imports, increasing exchange rates and commodity prices increase our bill and cause inflationary effects.
Kaynak Tera Yatırım
Hibya Haber Ajansı
Kaynak: Hibya Haber Ajansı