Foreign trade conditions declined in June

The Turkish Statistical Institute has released the foreign trade index for the period June 2024.

As a result, the export unit value index in June fell by 0.6% compared with the same month last year. Compared with the same month last year, the food, beverages and tobacco industry rose by 4.9%, raw materials (excluding fuel) fell by 1.3%, fuel industry rose by 1.6%, manufacturing industry rose by 1%, and industry (excluding food, beverages and tobacco) fell by 4.

The import unit value index in June increased by 1.4% compared with the same month last year. Compared with the same month last year, the food, beverage and tobacco industry decreased by 1.6%, the fuel industry increased by 8.4%, the raw materials (excluding fuel) decreased by 1.7%, the manufacturing industry decreased by 1%, and the industry (excluding food, beverages and tobacco) decreased by 0.3.

The foreign trade conditions, calculated by dividing the export unit value index by the import unit value index, were 90.2 in June 2023, down 1.8 percentage points, and 88.4 in June 2024.

Export volume decreases

The export quantity index in June fell by 8.0% compared with the same month last year. Compared with the same month last year, the food, beverage and tobacco industry fell by 7.2%, raw materials (excluding fuel) increased by 5.7%, fuel increased by 20.6%, manufacturing increased by 9%, and industry (excluding food, beverages and tobacco) fell by 8.

The export quantity index of the series adjusted for seasonal and calendar effects was 158.7 in May 2024 and decreased by 3.0% to 153.9 in June 2024. The export quantity index of the series adjusted for calendar effects was 158.9 in June 2023 and decreased by 2.2% to 155.4 in June 2024.

Import volume decreased

The import quantity index in June fell 5.7% compared with the same month last year. Compared with the same month last year, the food, beverage and tobacco industry fell 5.3%, raw materials (excluding fuel) fell 0.7%, fuel fell 3.1%, manufacturing fell 0%, and industry (excluding food, beverages and tobacco) fell 0.8.

The import quantity index of the series adjusted for seasonal and calendar effects was 118.1 in May 2024 and increased by 3.9% to 122.7 in June 2024. The import quantity index of the series adjusted for calendar effects was 123.9 in June 2023 and decreased by 1.2% to 122.5 in June 2024.