July 2016 Import / Export Figures Announced...

According to provisional foreign trade data compiled jointly by the Turkish Statistical Institute and the Ministry of Customs and Trade, in July 2016 exports fell by 11.5% compared to the same month of 2015 to 9 billion 855 million dollars, while imports fell by 19.7% to 14 billion 643 million dollars. The foreign trade deficit, on the other hand, declined by 32.5 percent.

Foreign trade deficit
In July, the foreign trade deficit decreased by 32.5% to 4 billion 788 million dollars. The ratio of exports to imports, which was 61.1% in July 2015, rose to 67.3% in July 2016.

Exports decreased by 9%
According to the seasonally and calendar-adjusted series, in July 2016 exports decreased by 9% and imports by 9.2% compared to the previous month. According to the calendar-adjusted series, in July 2016 exports decreased by 6.8% and imports by 8.3% compared to the same month of the previous year.

Exports to the European Union decreased by 1.7%
The European Union's (EU-28) share of exports, which was 46.3% in July 2015, became 51.4% in July 2016. Exports to the EU decreased by 1.7% compared to the same month of 2015 to 5 billion 69 million dollars.

The country with the most exports was the United Kingdom
Exports to the United Kingdom amounted to 982 million dollars in July 2016, followed by Germany (966 million dollars), Italy (550 million dollars) and the USA (448 million dollars), respectively.

China took first place in imports
Imports from China amounted to 1 billion 884 million dollars in July 2016. This country was followed by Germany (1 billion 722 million dollars), Russia (1 billion 117 million dollars) and Italy (854 million dollars), respectively.

Exports of high-technology products
Foreign trade data by technology intensity cover manufacturing industry products included in the ISIC Rev.3 classification. In July, the share of manufacturing industry products in total exports according to ISIC Rev.3 was 94.7%. The share of high-technology products in manufacturing industry product exports was 3.1%, while the share of medium-high-technology products was 33.2%.

Imports of high-technology products
The share of manufacturing industry products in total imports was 83.6%. In July 2016, the share of high-technology products in manufacturing industry product imports was 15.3%, while the share of medium-high-technology products was 47.8%.