According to the provisional foreign trade statistics compiled by the Turkish Statistical Agency and the Turkish Undersecretariat of Customs, in June 2009 Turkey's total exports fell by 29.2 percent to $8.332 billion compared to June 2008, while the country's imports dropped by 35.9 percent year on year to $12.483 billion. In the same period, the foreign trade deficit fell by 46.1 percent from $7.706 billion to $4.152 billion.
Meanwhile, in June this year Turkey's export-import ratio increased to 66.7 percent, from 60.4 percent in June 2008.
During the month in question, the largest volume of exports was accounted for by road vehicles and their parts at $1.141 billion, followed by machinery, mechanical appliances, boilers and related equipment/parts at $714 million, and finally by iron and steel at $616 million.
Turkey's iron and steel exports in the first half of the current year totaled $3.866 billion, down 46.6 percent year on year from $7.233 billion, while exports of articles of iron and steel amounted to $2.140 billion, down 24 percent year on year from $2.814 billion. At the same time, during the first six months of 2009, exports of ores, slag and ash amounted to $212.354 million, down 59.5 percent year on year from $524.371 million.
In June 2009, Turkey's largest volume of imports was recorded in mineral fuels and mineral oils at $2.538 billion, followed by machinery, mechanical appliances, boilers and related equipment/parts at $1.796 billion, electrical machinery and equipment at $1.070 billion, and finally by iron and steel at $1 billion.
In the first six months of 2009, Turkey's iron and steel imports totaled $4.960 billion, down 60.4 percent year on year from $12.528 billion, while imports of articles of iron and steel amounted to $695.123 million, down 40.4 percent year on year from $1.166 billion. Meanwhile, imports of ores, slag and ash amounted to $586.366 million, up 72.9 percent year on year from $339.136 million.
Turkey's top five export destinations in June and in H1 2009:
Value in June 2009 ($1,000) | Change year on year (%) | Value in H1 2009 ($1,000) | Change year on year (%) | |
793,142 | -30.2 | 4,508,797 | -34.7 | |
537,279 | -10.2 | 2,763,830 | -25.1 | |
528,982 | -29.6 | 2,669,667 | -40.8 | |
United Kingdom | 517,429 | -31.0 | 2,392,449 | -45.3 |
431,071 | 34.0 | 2,540,619 | 59.7 |
Turkey's top five import sources in June and in H1 2009:
Value in June 2009 ($1,000) | Change year on year (%) | Value in H1 2009 ($1,000) | Change year on year (%) | |
1,636,390 | -44.8 | 8,762,576 | -47.0 | |
1,204,327 | -34.8 | 6,175,547 | -38.1 | |
1,096,465 | -17.6 | 5,513,587 | -30.3 | |
USA | 806,304 | -25.1 | 4,003,735 | -25.6 |
678,654 | -28.6 | 3,077,978 | -35.4 |
