Foreign Trade Indices Announced
Export unit value index increased by 3.6% in August.
The Turkish Statistical Institute (TÜİK) announced the August Foreign Trade Indices data. Accordingly, the export unit value index increased by 3.6% in August compared to the same month of the previous year. Compared to the same month of the previous year, the index increased by 11.8% in food, beverages and tobacco, 7.4% in raw materials (excluding fuel), decreased by 10.2% in fuels, and increased by 2.7% in the manufacturing industry (excluding food, beverages, tobacco).
EXPORT VOLUME INDEX DECREASED BY 1.2%
The export volume index decreased by 1.2% in August compared to the same month of the previous year. Compared to the same month of the previous year, the index decreased by 6.6% in food, beverages and tobacco, increased by 3.6% in raw materials (excluding fuel), decreased by 7.8% in fuels, and decreased by 0.8% in the manufacturing industry (excluding food, beverages, tobacco).
IMPORT UNIT VALUE INDEX INCREASED BY 2.9%
The import unit value index increased by 2.9% in August compared to the same month of the previous year. Compared to the same month of the previous year, the index increased by 8.8% in food, beverages and tobacco, 5.4% in fuels, 1.1% in raw materials (excluding fuel), and 0.9% in the manufacturing industry (excluding food, beverages, tobacco).
IMPORT VOLUME INDEX DECREASED BY 13.2%
The import volume index decreased by 13.2% in August compared to the same month of the previous year. Compared to the same month of the previous year, the index decreased by 7.7% in food, beverages and tobacco, increased by 6.1% in raw materials (excluding fuel), decreased by 5.6% in fuels, and decreased by 7.7% in the manufacturing industry (excluding food, beverages, tobacco).
SEASONALLY AND CALENDAR ADJUSTED EXPORT VOLUME INDEX INCREASED BY 3.2%
According to the seasonally and calendar adjusted series, the export volume index increased by 3.2% from 150.9 in July 2024 to 155.8 in August 2024. According to the calendar adjusted series, the export volume index increased by 2.9% from 144.9 in August 2023 to 149.0 in August 2024.
SEASONALLY AND CALENDAR ADJUSTED IMPORT VOLUME INDEX INCREASED BY 0.7%
According to the seasonally and calendar adjusted series, the import volume index increased by 0.7% from 117.1 in July 2024 to 118.0 in August 2024. According to the calendar adjusted series, the import volume index decreased by 10.4% from 128.9 in August 2023 to 115.5 in August 2024.
TERMS OF TRADE REALIZED AS 88.3 IN AUGUST 2024
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 2023, increased by 0.6 points to 88.3 in August 2024.