TÜİK announces August foreign trade indices: 3.6 percent increase compared to last year

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

Accordingly, the export unit value index rose by 3.6 percent in August compared to the same month of the previous year.

Compared to August 2023, the index increased by 11.8 percent in food, beverages, and tobacco, 7.4 percent in raw materials (excluding fuel), and 2.7 percent in manufacturing (excluding food, beverages, and tobacco), while it showed a decrease of 10.2 percent in fuels.

The import unit value index increased by 2.9 percent on an annual basis in August.

Compared to the same month of the previous year, the index increased by 8.8 percent in food, beverages, and tobacco, 5.4 percent in fuels, 1.1 percent in raw materials (excluding fuel), and 0.9 percent in manufacturing (excluding food, beverages, and tobacco).

EXPORT AND IMPORT QUANTITY INDEX

The export quantity index recorded a 1.2 percent decline in August compared to the same month of the previous year. During this period, the index decreased by 6.6 percent in food, beverages, and tobacco, 7.8 percent in fuels, and 0.8 percent in manufacturing (excluding food, beverages, and tobacco), while it showed an increase of 3.6 percent in raw materials (excluding fuel).

The import quantity index, on the other hand, decreased by 13.2 percent on an annual basis in August. In the index, compared to the same month of the previous year, a decrease of 7.7 percent was observed in food, beverages, and tobacco, 5.6 percent in fuels, and 7.7 percent in manufacturing (excluding food, beverages, and tobacco), while an increase of 6.1 percent was recorded in raw materials (excluding fuel).

According to the seasonally and calendar-adjusted series, the export quantity index, which was 150.9 in July, was calculated as 155.8 in August, an increase of 3.2 percent. According to the calendar-adjusted series, the export quantity index, which was 144.9 in August last year, increased by 2.9 percent to 149.

According to the seasonally and calendar-adjusted series, the import quantity index, which was 117.1 in July, increased by 0.7 percent to 118 in August. According to the calendar-adjusted series, the index, which was 128.9 in August last year, decreased by 10.4 percent and was calculated as 115.5 in the same month of this year.

The terms of trade, calculated by dividing the export unit value index by the import unit value index and which was 87.7 in August last year, increased by 0.6 points to 88.3 in the same month of this year.

News Source: 12punto