Exports increased by 2.9% and imports increased by 7%
According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in August 2014; exports were 11 billion 440 million dollars with a 2.9% increase and imports were 19 billion 476 million dollars with a 7% increase compared with August 2013. Foreign trade deficit increased by 13.5%
In the same month, foreign trade deficit increased by 13.5% from 7 billion 80 million dollars to 8 billion 36 million dollars.
In August 2014, exports coverage imports was 58.7%, while it was 61.1% in August 2013.Seasonally and calendar adjusted exports decreased by 10.5%
Seasonally and calendar adjusted exports decreased by 10.5% and imports decreased by 4.3% compared with previous month. Calendar adjusted exports decreased by 3.2% and imports decreased by 1.2% compared with August 2013. Exports to the European Union (EU-28) increased by 10%
As compared with the same month of the previous year, exports to the EU-28 increased by 10% from 4 billion 605 million dollars to 5 billion 65 million dollars. The proportion of the EU countries was 44.3% in August 2014, while it was 41.4% in August 2013. The main partner for exports was Germany
In August 2014, the main partner country for exports was Germany with 1 billion 137 million dollars. Germany was followed by the United Kingdom (777 million dollars), Iraq (647 million dollars) and The USA (530 million dollars). The top country for imports was China
In August 2014, the top country for Turkey’s imports was China (2 billion 257 million dollars), records for imports range from Russia (2 billion 137 million dollars), Germany (1 billion 746 million dollars) and Italy (994 million dollars).
Ratio of exports of high-tech products in manufacturing industries was 3.4%
Foreign trade by technology intensity covers the manufacturing industries’ products in classification of ISIC Rev.3. According to the ISIC Rev.3, the ratio of manufacturing industries products in total export was 93.7% in August. The ratio of high-technology products in manufacturing industries was 3.4%. The ratio of medium-high-technology products in manufacturing industries was 28.7%. Ratio of imports of high-tech products in manufacturing industries was 13.3%
The ratio of manufacturing industries’ products in total import was 77.8%.The ratio of high-technology products in manufacturing industries’ products was 13.3% in August 2014. The ratio of medium-high-technology products in manufacturing industries’ products was 41.6%.The next release on this subject will be on October 31, 2014.