Turkish export unit value index decreases by 4.3% in February

The index dropped by 4.3% for manufactured goods (excluding food, beverages, and tobacco), 0.2% for food, beverages, and tobacco, 8.4% for crude materials (excluding fuels), and 6.9% for fuels.

Contrastingly, the overall export volume index surged by 18.6% compared to February of the previous year. Notably, there was a 32.2% increase for food, beverages, and tobacco, 22.2% for crude materials (excluding fuels), 60.0% for fuels, and 14.7% for manufactured goods (excluding food, beverages, and tobacco).

In February, the overall import unit value index experienced a 5.9% decrease compared to the same month last year. This decline was observed across various sectors, with decreases of 3.1% for food, beverages, and tobacco, 17.0% for fuels, 4.1% for crude materials (excluding fuels), and 3.8% for manufactured goods (excluding food, beverages, and tobacco).

Similarly, the overall import volume index decreased by 3.5% compared to February of the previous year. While there was a decrease of 6.4% for food, beverages, and tobacco, there were increases of 19.0% for crude materials (excluding fuels), 2.8% for fuels, and 9.7% for manufactured goods (excluding food, beverages, and tobacco).

The calendar and seasonally adjusted export volume index increased by 1.7% in February, reaching 155.5. Meanwhile, the adjusted import volume index rose by 6.3%, reaching 123.3. The terms of trade increased from 85.2 in February 2023 to 86.7 in February 2024, reflecting improvements in export-import dynamics. (ILKHA)