Foreign trade deficit increased by 38.4 percent in January, compared to the same month of the previous year, and rose to 14 billion 237 million dollars and reached a record level. Turkey’s exports increased by 10.3 percent in January compared to the same month of the previous year and amounted to 19 billion 369 million dollars, while imports increased by 20.7 percent to 33 billion 606 million dollars. Turkish Statistical Institute (TUIK). ) and the temporary foreign trade data for January created in cooperation with the Ministry of Commerce.
Exports to import coverage was 63 percent in January 2022, it decreased to 57.6 percent last month.
Exports, excluding energy products and non-monetary gold, increased by 8.4 percent in January and rose to 18 billion 105 million dollars. In January, imports excluding energy products and non-monetary gold increased by 8.1 percent to 19 billion 891 million dollars. The foreign trade deficit excluding energy products and non-monetary gold was 1 billion 787 million dollars in January. Foreign trade volume increased by 8.2 percent to 37 billion 996 million dollars. In the said month, the ratio of exports to imports excluding energy and gold was 91 percent.
Germany took the first place in exports in January. While export to Germany is 1 billion 826 million dollars, this country is respectively; USA with 1 billion 186 million dollars, Russia with 1 billion 43 million dollars, United Kingdom with 954 million dollars, 916 million dollars followed by Italy. Exports to the first 5 countries constituted 30.6 percent of total exports.
Russia took the first place in imports. In January, imports from Russia amounted to 5 billion 1 million dollars, while this country is respectively; Switzerland with 4 billion 337 million dollars, China with 3 billion 557 million dollars, Germany with 1 billion 807 million dollars, 1 billion The USA was followed by the USA with 229 million dollars. Imports from the top 5 countries accounted for 47.4 percent of total imports.
