TÜİK announces foreign trade indices for May

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

Accordingly, the export unit value index remained unchanged in May compared to the same month of the previous year.

Compared to May 2023, the index increased by 2.7 percent in food, beverages, and tobacco, and by 11.3 percent in fuels, while it decreased by 4.7 percent in raw materials (excluding fuels) and by 1.4 percent in the manufacturing industry (excluding food, beverages, and tobacco).

The import unit value index showed a 1 percent increase on an annual basis in May.

Compared to the same month last year, the index decreased by 3.9 percent in food, beverages, and tobacco, by 4.7 percent in raw materials (excluding fuels), and by 0.2 percent in the manufacturing industry (excluding food, beverages, and tobacco), while it increased by 4.7 percent in fuels.

QUANTITY INDICES

The export quantity index increased by 11.3 percent in May compared to the same month last year. During this period, the index showed an increase of 11.6 percent in food, beverages, and tobacco, 13.3 percent in fuels, 10.6 percent in raw materials (excluding fuels), and 10.3 percent in the manufacturing industry (excluding food, beverages, and tobacco).

The import quantity index, on the other hand, decreased by 11.2 percent on an annual basis in May. Compared to the same month last year, the index decreased by 20.3 percent in food, beverages, and tobacco, 7.1 percent in raw materials (excluding fuels), 5.9 percent in fuels, and 5.9 percent in the manufacturing industry (excluding food, beverages, and tobacco).

SEASONALLY AND CALENDAR ADJUSTED DATA

According to the seasonally and calendar adjusted series, the export quantity index, which was 150.3 in April, increased by 5.7 percent in May to be calculated as 158.9. According to the calendar adjusted series, the export quantity index, which was 142.6 in May last year, increased by 11.3 percent to reach 158.6.

According to the seasonally and calendar adjusted series, the import quantity index, which was 135.7 in April, decreased by 13 percent to fall to 118.1 in May. According to the calendar adjusted series, the index, which was 143.2 in May last year, decreased by 14 percent and was calculated as 123.2 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 stood at 87.3 in May last year, was recorded as 86.5 in the same month of this year, marking a decrease of 0.8 points.

News Source: AA