TÜİK announced foreign trade indices for October

The export unit value index rose by 0.1 percent in October compared to the same month last year, while the import unit value index decreased by 12.7 percent.

The Turkish Statistical Institute (TÜİK) has announced the foreign trade indices for October.

Accordingly, the export unit value index increased by 0.1 percent in October compared to the same month last year. Compared to the same month of the previous year, the index declined by 0.1 percent in food, beverages, and tobacco, by 6.6 percent in raw materials (excluding fuel), and by 19.9 percent in fuels. It rose by 1.9 percent in the manufacturing industry (excluding food, beverages, and tobacco).

The import unit value index fell by 12.7 percent in October compared to the same month last year. Compared to the same month of the previous year, the index decreased by 4.4 percent in food, beverages, and tobacco, by 35.5 percent in fuels, by 15.9 percent in raw materials (excluding fuel), and by 4.1 percent in the manufacturing industry (excluding food, beverages, and tobacco).

EXPORT QUANTITY INDEX INCREASED

The export quantity index increased by 7.2 percent in October compared to the same month last year. Compared to the same month of the previous year, the index rose by 19 percent in food, beverages, and tobacco, by 46 percent in fuels, and by 0.6 percent in the manufacturing industry (excluding food, beverages, and tobacco). It fell by 3.9 percent in raw materials (excluding fuel).

The import quantity index showed an annual increase of 15.3 percent in October. Compared to the same month of the previous year, the index rose by 11.4 percent in food, beverages, and tobacco, by 12 percent in fuels, and by 30.5 percent in the manufacturing industry (excluding food, beverages, and tobacco), while it declined by 7.1 percent in raw materials (excluding fuel).

SEASONALLY AND CALENDAR ADJUSTED DATA

According to the seasonally and calendar adjusted series, the export quantity index decreased by 4.1 percent from 159.2 in September to 152.6 in October. According to the calendar adjusted series, the export quantity index increased by 3 percent annually in October to 163.6.

According to the seasonally and calendar adjusted series, the import quantity index increased by 6.4 percent from 126.6 in September to 134.7 in October. According to the calendar adjusted series, the import quantity index increased by 11.5 percent annually in October to 128.4.

The terms of trade, calculated by dividing the export unit value index by the import unit value index, which was 75.2 in October 2022, increased by 11 points to 86.2 in October 2023.