Double-digit deficit was recorded in foreign trade in May.
According to the data of the Ministry of Commerce, exports in May increased by 14.4 percent year on year to 21.7 billion dollars, while imports increased by 16 percent to 34.3 billion dollars. In the one-to-one period, the foreign trade deficit increased by 19 percent to $12.7 billion.
Compared to the same month of the previous year in May; The ratio of exports to imports decreased by 0.9 points to 63.1 percent. Excluding energy data, the ratio of exports to imports decreased by 7.1 points to 70.1 percent. Excluding power and gold data, the ratio of exports to imports decreased by 4.6 percentage points to 77.4 percent.
Foreign trade deficit increased to 56.1 billion dollars in 5 months
Looking at the first 5 months of the year, compared to the same period of the previous year; exports remained flat and reached 102.5 billion dollars, while imports increased by 8.9 percent to 158.6 billion dollars.
Foreign trade deficit, on the other hand, increased by 29.5 percent in the same period and amounted to 56.1 billion dollars.
Country profile in foreign trade did not change in May
The countries with the highest exports in May are respectively; Germany (1 billion 810 million dollars), USA (1 billion 307 million dollars) and England (1 billion 51 million dollars). The share of the top 10 countries with the largest share in exports in total exports was 47.5 percent.
The countries with the highest imports in May are respectively; Russian Federation (4 billion 575 million dollars), China (4 billion 347 million dollars) and Germany (2 billion 672 million dollars).
The share of the top 10 countries with the largest share in imports in total imports was 60 percent.
Source: Bloomberg HT