According to the provisional foreign trade statistics compiled by the Turkish Statistical Agency and the Turkish Undersecretariat of Customs, in July this year Turkey's total exports fell by 28.3 percent to $9.034 billion compared to July 2008, while the country's imports dropped by 39.5 percent year on year to $12.431 billion. In the month in question, the foreign trade deficit fell by 57.3 percent year on year from $7.962 billion to $3.398 billion.
Meanwhile, in July this year Turkey's export-import ratio increased to 72.7 percent, from 61.3 percent in June 2008.
During the month in question, the largest volume of exports was accounted for by road vehicles and their parts at $1.238 billion, followed by machinery, mechanical appliances, boilers and related equipment/parts at $749 million, and finally by iron and steel at $712 million.
Turkey's top five export destinations in July and in January-July 2009:
Value in July 2009 ($1,000) | Change year on year (%) | Value in January-July 2009 ($1,000) | Change year on year (%) | |
850,577 | -30.9 | 5,361,379 | -34.1 | |
626,399 | -4.9 | 3,390,296 | -22.1 | |
United Kingdom | 625,897 | -19.3 | 3,017,190 | -41.4 |
533,512 | -36.6 | 3,204,079 | -40.1 | |
420,210 | 20.0 | 2,954,102 | 52.2 |
In the first seven months of the year, Turkey's iron and steel exports totaled $4.577 billion, down 49.7 percent from $9.102 billion in the same period last year, while exports of articles of iron and steel amounted to $2.533 million, down 24.9 percent year on year from $3.773 billion. Meanwhile, exports of ores, slag and ash amounted to $288.557 million, down 54.4 percent year on year from $633.165 million.
In July 2009, Turkey's largest volume of imports was recorded in mineral fuels and mineral oils at $2.563 billion, followed by machinery, mechanical appliances, boilers and related equipment/parts at $1.456 billion, by electrical machinery and equipment at $1.025 billion, and finally by iron and steel at $915 million.
Turkey's top five import sources in July and in January-July 2009:
Value in June 2009 ($1,000) | Change year on year (%) | Value in H1 2009 ($1,000) | Change year on year (%) | |
1,618,250 | -48.6 | 10,381,015 | -47.3 | |
1,214,857 | -32.1 | 7,391,181 | -37.2 | |
1,028,206 | -27.9 | 6,541,857 | -29.9 | |
740,790 | -37.6 | 4,023,710 | -43.8 | |
USA | 709,237 | -52.1 | 4,712,983 | -31.3 |
In the January-July period of the current year, Turkey's iron and steel imports totaled $5.876 billion, down 61.8 percent year on year from $15.388 billion, while imports of articles of iron and steel amounted to $831.313 million , down 40.5 percent year on year from $1.398 billion. Meanwhile, imports of ores, slag and ash amounted to $600.69 million, up 24.3 percent year on year from $483.384 million.
