TÜİK announced the foreign trade indices for the month of March.

The export unit value index increased by 1.4 percent compared to the same month of the previous year in March, while the import unit value index decreased by 2 percent.

The Turkish Statistical Institute (TÜİK) has announced the foreign trade indices for the month of March.

According to the data, the export unit value index declined by 1.4 percent in March compared to the same month last year.

The index showed increases in food, beverages, and tobacco by 0.6 percent, and in fuels by 2.3 percent compared to March 2023, while it decreased by 2.3 percent for raw materials (excluding fuels) and by 1.9 percent for manufacturing industries (excluding food, beverages, and tobacco).

The import unit value index decreased by 2 percent on an annual basis in March.

Compared to the same month last year, the index dropped by 7.7 percent in food, beverages, and tobacco, by 3.4 percent in fuels, by 5.1 percent in raw materials (excluding fuels), and by 3.1 percent in manufacturing industries (excluding food, beverages, and tobacco).

Quantity indices

The export quantity index decreased by 2.8 percent in March compared to the same month last year. During this period, the index increased by 2.3 percent for food, beverages, and tobacco, by 30.8 percent for fuels, while it decreased by 9 percent for raw materials (excluding fuels) and by 4 percent for manufacturing industries (excluding food, beverages, and tobacco).

The import quantity index decreased by 4.4 percent on an annual basis in March. Compared to the same month last year, the index declined by 19.5 percent in food, beverages, and tobacco, by 6.6 percent in raw materials (excluding fuels), by 2.6 percent in fuels, and by 1.5 percent in manufacturing industries (excluding food, beverages, and tobacco).

Seasonally and calendar adjusted data

According to the seasonally and calendar adjusted series, the export quantity index decreased by 0.5 percent from 155.4 in February to 154.7 in March. The seasonally and calendar adjusted series showed an increase of 5.3 percent from 154.4 in March last year to 162.6 this year.

According to the seasonally and calendar adjusted series, the import quantity index increased by 3.5 percent from 124.2 in February to 128.5 in March. The seasonally and calendar adjusted series showed an increase of 2.2 percent from 129.4 in March last year to 132.3 this year.

The foreign trade ratio, calculated by dividing the export unit value index by the import unit value index, increased by 0.5 points from 86.7 in March last year to 87.2 in the same month this year.