The foreign trade statistics for the month of March have been announced.

Türkiye'nin ihracatı martta geçen yılın aynı ayına göre yüzde 4,1 azalarak 22 milyar 571 milyon dolar, ithalatı yüzde 6,3 azalışla 29 milyar 912 milyon dolar olarak gerçekleşti.

The provisional foreign trade data for the month of March, compiled in collaboration with the Turkish Statistical Institute and the Ministry of Trade, has been released.

According to this data, within the framework of the General Trade System, exports decreased by 4.1% to 22 billion 571 million dollars in March compared to the same month last year, while imports decreased by 6.3% to 29 billion 912 million dollars.

The foreign trade deficit decreased by 12.4% in March compared to the same month last year, reaching 7 billion 341 million dollars.

The export-to-import ratio increased from 73.8% in March 2023 to 75.5% last month.

In the January-March period, the foreign trade deficit decreased by 41.5%.

In the January-March period, exports increased by 3.6% to 63 billion 603 million dollars compared to the same period last year, while imports decreased by 12.8% to 83 billion 945 million dollars.

In the January-March period, the foreign trade deficit decreased by 41.5% to 20 billion 343 million dollars from 34 billion 799 million dollars.

The export-to-import ratio in the January-March 2023 period was 63.8%, which increased to 75.8% in the same period this year.

Excluding energy and gold, in March:

- Export decreased by 5.1% to 20 billion 789 million dollars,
- Import decreased by 6.7% to 22 billion 805 million dollars,
- The trade deficit excluding energy and gold amounted to 2 billion 16 million dollars.

The total foreign trade volume decreased by 6% to 43 billion 594 million dollars in March. The export-to-import ratio excluding energy and gold in that month was determined as 91.2%.

Germany ranked first in exports, while China ranked first in imports in March.

In March, the top country for exports was Germany with 1 billion 749 million dollars. This was followed by Italy with 1 billion 288 million dollars, the United States with 1 billion 265 million dollars, Iraq with 1 billion 189 million dollars, and the United Kingdom with 1 billion 172 million dollars. The exports to the top 5 countries accounted for 29.5% of the total exports.

In the January-March period, Germany also ranked first in exports with 5 billion 232 million dollars. This was followed by the United States with 3 billion 804 million dollars, Italy with 3 billion 449 million dollars, Iraq with 3 billion 357 million dollars, and the United Kingdom with 3 billion 256 million dollars. Exports to the top 5 countries accounted for 30% of total exports during this period.

In March, China ranked first in imports. The import amount from China was calculated as 3 billion 900 million dollars, followed by Russia with 3 billion 632 million dollars, Germany with 2 billion 146 million dollars, Italy with 1 billion 902 million dollars, and the United States with 1 billion 407 million dollars. Imports from the top 5 countries accounted for 43.4% of the total imports.

In the January-March period, Russia ranked first in imports with 11 billion 984 million dollars. This was followed by China with 10 billion 227 million dollars, Germany with 6 billion 282 million dollars, Italy with 4 billion 632 million dollars, and the United States with 4 billion 146 million dollars. Imports from the top 5 countries accounted for 44.4% of the total imports.

According to the seasonally and calendar-adjusted series, in March, exports increased by 0.8% compared to the previous month, while imports increased by 3.9%. According to the calendar-adjusted series, in March, exports increased by 1.1% compared to the same month last year, while imports increased by 0.8%.

Foreign trade data according to technology intensity covers manufacturing industry products classified under "ISIC Rev.4". In March, the share of manufacturing industry products in total exports according to this classification was 94.6%. The share of high-technology products in manufacturing industry products exports was recorded as 3.3%.

In the January-March period, the share of manufacturing industry products in total exports according to ISIC Rev.4 was 93.9%, while the share of high-technology products in manufacturing industry products exports was 3.1%.

In March, the share of manufacturing industry products in total imports was determined as 81.5%. The share of high-technology products in manufacturing industry products imports was recorded as 11.3%. In the January-March period, the share of manufacturing industry products in total imports was 79%, while the share of high-technology products in manufacturing industry products imports was 11.8%.

Special Trade System data:

According to the Special Trade System, exports decreased by 4.1% to 20 billion 663 million dollars in March compared to the same month last year. Imports decreased by 7.6% to 28 billion 5 million dollars.

In March, the foreign trade deficit decreased by 16.2% to 7 billion 341 million dollars from 8 billion 758 million dollars. The export-to-import ratio in March 2023 was 71.1%, which increased to 73.8% in the same month this year.

According to the Special Trade System, exports in the January-March period increased by 3.1% to 57 billion 794 million dollars compared to the same period last year. Imports decreased by 13.1% to 79 billion 74 million dollars.

In the January-March period, the foreign trade deficit decreased by 39.2% to 21 billion 280 million dollars from 34 billion 998 million dollars. The export-to-import ratio in the January-March 2023 period was 61.6%, which increased to 73.1% in the same period this year.