Foreign Trade Statistics, March 2014. Exports increased by 12.4% and imports decreased by 3%

Exports increased by 12.4% and imports decreased by 3% 

According to the provisional data, produced with the cooperation of the Turkish Statistical Institute and the Ministry of Customs and Trade, in March 2014; exports were 14 748 Million Dollars with a 12.4% increase and imports were 19 943 Million Dollars with a 3% decrease compared with March 2013.

Foreign trade deficit decreased by 30.1% 

In the same month, foreign trade deficit decreased by 30.1% from 7 437 Million Dollars to 5 195 Million Dollars.

In March 2014, exports coverage imports was 73.9%, while it was 63.8% in March 2013.

Seasonally and calendar adjusted exports increased by 3.6% 

Seasonally and calendar adjusted exports increased by 3.6% and imports decreased by 0.8% compared with previous month. Calendar adjusted exports increased by 12.4% and imports decreased by 3.2% compared with March 2013. 

Exports to the European Union (EU-28) increased by 13.5% 

As compared with the same month of the previous year, exports to the EU-28 increased by 13.5% from 5 361 Million Dollars to 6 084 Million Dollars. The proportion of the EU countries was 41.3% in March 2014, while it was 40.9% in March 2013. 

The main partner for exports was Switzerland

In March 2014, the main partner country for exports was Switzerland with 1 364 Million Dollars (1 275 Million Dollars of gold for non-monetary purpose exportation). Switzerland was followed by Germany    (1 334 Million Dollars), Iraq (1 001 Million Dollars) and the United Kingdom (848 Million Dollars). 

The top country for imports was Russia

In March 2014, the top country for Turkey’s imports was Russia (2 181 Million Dollars), records for imports range from China (2 043 Million Dollars), Germany (1 984 Million Dollars) and the USA (1 135 Million Dollars). 

Ratio of exports of high-tech products in manufacturing industries was 3.4%

Foreign trade by technology intensity covers the manufacturing industries’ products in classification of ISIC Rev. 3. According to the ISIC Rev. 3, the ratio of manufacturing industries products in total export was 93.9% in March. The ratio of high-technology products in manufacturing industries was 3.4%. The ratio of medium-high-technology products in manufacturing industries was 30%. 

Ratio of imports of high-tech products in manufacturing industries was 14.7% 

The ratio of manufacturing industries’ products in total import was 77.1%. The ratio of high-technology products in manufacturing industries’ products was 14.7% in March 2014. The ratio of medium-high-technology products in manufacturing industries’ products was 43.1%