Türkiye's export unit value drops in June--TurkStat

While the value of food, beverages, and tobacco exports increased by 4.9%, manufactured goods, excluding these items, saw a 1.4% decrease.

On the volume side, overall exports dropped by a significant 8.0% year-on-year. Manufactured goods exports fell by 9.8%, offset by increases in crude materials and fuels.

Import unit value, on the other hand, rose by 1.4% annually, driven primarily by a surge in fuel prices. Import volume decreased by 5.7% overall.

The decline in export unit value coupled with the increase in import unit value led to a deterioration in Türkiye's terms of trade, falling to 88.4 in June from 90.2 in the same month last year.

Seasonally adjusted data showed a 3.0% decrease in export volume and a 3.9% increase in import volume for June.

These figures indicate challenges for Türkiye's export sector amid rising costs and global economic uncertainties. (ILKHA)