Turkey's exports increased by 25%
According to updated data from the Turkish Statistical Institute, in February 2022, the state's exports increased by 25.4% compared to the same period in 2021 and amounted to $20 billion. Earlier, in January, the indicator increased by 17.2%. Meanwhile, the country's foreign trade deficit amounted to $7.9 billion.
Germany became the main export market for the country, purchasing $1.8 billion worth of goods. At the same time, in the first two months of 2022, Turkey's supplies to Europe's largest economy amounted to $3.2 billion.
The second largest export market was the United States. Goods worth $1.3 billion were imported into the country. The United Kingdom became the third largest importer of Turkish goods, the fourth - Italy, and the fifth - Iraq. These five countries accounted for about 32% of the country's total exports in February.
At the same time, Turkey's imports in February increased by 44.5% year on year and amounted to $27.9 billion. Seasonally adjusted, the volume of imports decreased by 3% compared with January figures.
The country's imports from Russia reached the amount of 3.86 billion dollars. In second place in terms of imports is China, and in third is Germany.
Consumer goods imports fell 2.3% year on year to $2.1 billion, while Turkey's imports of capital goods rose 2.3% to $2.7 billion.