Türkiye's export unit value edges up by 0.2% in November

In its latest statement released on Friday, the Turkish Statistical Institute disclosed that the overall export unit value index experienced a marginal 0.2% increase in November. When compared to the same month in the previous year, the index showed a similar uptick of 0.2%.

Notably, there was a 1.7% increase for manufactured goods (excluding food, beverages, and tobacco), a 1.0% rise for food, beverages, and tobacco, but a decrease of 5.9% for crude materials (excluding fuels) and a significant 19.0% drop for fuels.

Conversely, the overall export volume index saw a more robust growth, surging by 5.0% in November compared to the corresponding month in the previous year. The index also increased by 6.1% for food, beverages, and tobacco, decreased by 4.1% for crude materials (excluding fuels), soared by 52.6% for fuels, and slightly decreased by 1.3% for manufactured goods (excluding food, beverages, and tobacco) in comparison to November 2022.

On the import front, the overall import unit value index witnessed a substantial 7.8% decline in November compared to the same month in the previous year. The breakdown revealed a 6.2% decrease for food, beverages, and tobacco, a significant 27.8% drop for fuels, a 12.2% decrease for crude materials (excluding fuels), and a 2.3% decrease for manufactured goods (excluding food, beverages, and tobacco).

However, the overall import volume index showed a 2.3% increase in November compared to the corresponding month in the previous year. The detailed analysis displayed a 3.9% decrease for food, beverages, and tobacco, a marginal 0.2% decrease for crude materials (excluding fuels), a 6.1% decrease for fuels, and a notable 12.8% increase for manufactured goods (excluding food, beverages, and tobacco).

These indices provide insights into the complex dynamics of Türkiye's trade activities, reflecting both positive and negative trends in export and import values and volumes. (ILKHA)