According to provisional figures, Türkiye's exports fell by 8.3% to $19.05 billion, while imports decreased by 4.4% to $24.92 billion compared to June 2023.

In the first half of 2024, from January to June, Türkiye's exports totaled $126.28 billion, marking a 2.6% increase year-on-year. Meanwhile, imports for the same period were $168.87 billion, showing an 8.4% decrease.

When excluding energy products and non-monetary gold, June's exports were $17.58 billion, a 9.4% decline, and imports were $19.31 billion, down by 2.7%. The foreign trade deficit, excluding energy products and non-monetary gold, stood at $1.73 billion for June. Overall, the foreign trade volume decreased by 6.0% to $36.89 billion, with exports covering 91.1% of imports in this category.

The foreign trade deficit for June 2024 increased by 10.8% to $5.87 billion, compared to June 2023. The ratio of exports covering imports fell to 76.4%, down from 79.7% in the same month last year. However, the foreign trade deficit for the first half of 2024 decreased by 30.5% to $42.59 billion, with the ratio of exports to imports rising to 74.8%, compared to 66.8% in the same period of 2023.

In terms of economic activity, manufacturing industries products made up 94.3% of total exports in June 2024. The agricultural, forestry, and fishing sectors contributed 3.6%, and mining and quarrying contributed 1.6%. For January-June 2024, these figures remained relatively stable with manufacturing industries contributing 94.3% of exports.

Regarding imports, intermediate goods accounted for 69.7% in June 2024, while capital goods and consumption goods made up 14.9% and 15.3%, respectively. These ratios were similar for the January-June 2024 period.

Germany was the top export partner in June 2024, with $1.56 billion in exports, followed by the USA, the UK, Italy, and Iraq. Together, these five countries accounted for 30.1% of total exports. For imports, China led with $3.39 billion, followed by Russia, Germany, the USA, and Italy, with these top five countries making up 42.7% of total imports.

Seasonally and calendar-adjusted figures showed that exports decreased by 7.5% and imports increased by 2.6% compared to the previous month. Calendar-adjusted exports decreased by 3.7% and imports increased by 1.2% year-on-year.

In terms of high-tech products, their ratio in manufacturing industries' exports was 4.1% in June 2024, up from 3.5% for the January-June 2024 period. High-tech products in manufacturing industries' imports accounted for 10.8% in June 2024, slightly down from 10.9% in the first half of the year.

According to the special trade system, exports in June 2024 were $17.13 billion, reflecting a 9.9% decrease, while imports were $22.73 billion, down by 7.1%. The foreign trade deficit under this system increased by 2.6% to $5.60 billion. Exports covered 75.4% of imports, compared to 77.7% in June 2023.

For January-June 2024, the special trade system recorded exports of $114.21 billion, a 1.8% increase, and imports of $157.38 billion, a 9.0% decrease. The foreign trade deficit decreased by 29.0% to $43.17 billion, with exports covering 72.6% of imports, up from 64.9% in the same period of 2023. (ILKHA)