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May Trade Balance Widens by 5.5b USD in May

TURKEY
MNI (London)

TURKEY MAY TRADE BALANCE -10.60B USD (FCST -10.70B); APR -6.13B r

  • The Turkish trade deficit grew by 5.5b to 10.60b USD in May, over 1.5 times that of May 2021. Exports increased by 15.3% in May, whilst imports climbed by 43.5% compared to May 2021. Imports increased by 40.8% alone in the January-May 2022 period, as the Lira saw stark depreciation. The proportion of imports covered by exports was 64.2%, a substantial decrease from 79.8% in May last year.
  • The main importer of Turkish goods was Russia, which accounted for 15.2% of imports totalling USD 4.5b in May. This is a reduction compared to April, when Russia received 18.5% of Turkish imports, totalling USD 5.5b.

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TURKEY MAY TRADE BALANCE -10.60B USD (FCST -10.70B); APR -6.13B r

  • The Turkish trade deficit grew by 5.5b to 10.60b USD in May, over 1.5 times that of May 2021. Exports increased by 15.3% in May, whilst imports climbed by 43.5% compared to May 2021. Imports increased by 40.8% alone in the January-May 2022 period, as the Lira saw stark depreciation. The proportion of imports covered by exports was 64.2%, a substantial decrease from 79.8% in May last year.
  • The main importer of Turkish goods was Russia, which accounted for 15.2% of imports totalling USD 4.5b in May. This is a reduction compared to April, when Russia received 18.5% of Turkish imports, totalling USD 5.5b.