Türkiye’s export volume in July 2022 increased by 13.4% compared to the same month last year and reached $18.55 billion, the Institute of Statistics and the Ministry of Trade said in a joint report.
Turkish imports rose 41.4% to $29.24 billion in July, according to the report.
The foreign trade deficit in July 2022 increased by 147% to $10.69 billion.
The export-to-import ratio, which stood at 79.1% in July 2021, dropped to 63.4% last month.
According to statistics, in general, in January-July 2022, Türkiye’s exports increased by 19.1% to $144.33 billion, and imports by 40.7% to $206.5 billion.
The foreign trade deficit in this period increased by 143.7% to $62.18 billion.
If in January-July 2021 the ratio of exports and imports was 82.6%, in 2022 the figure dropped to 69.9%.
Türkiye’s main importer in July was Germany – $1.49 billion. The US is next with $1.32 billion, the UK with $1.15 billion, Iraq with $1 billion and Italy with $850 million.
The top five importers accounted for 30.6% of Türkiye’s total exports.
In January-July, Germany also remains the main importer – $12.11 billion. They are followed by the US with $9.94 billion, the UK with $7.5 billion, Italy with $7.46 billion and Iraq with $7.36 billion.