Erzurum Exports Reach $8.104 Million in First Five Months

Erzurum Exports USD 8.104 Million in First Five Months Erzurum recorded exports worth USD 1.806 million and imports worth USD 4.857 million in May 2022, totalling USD 6.663 million in foreign trade. The Ministry of Trade shared May 2022 foreign trade figures. According to the data, Erzurum recorded USD 8.104 million in exports and USD 20.022 million in imports during the first five months, totalling USD 28.127 million in foreign trade. The export share by foreign trade value was 28.81%, while the import share was 71.18%.

Export Value Distribution

According to analysis conducted by DOSİAD based on the data, the highest export value during the first five months of the year was recorded in May. The province exported USD 1.449 million in January, USD 1.772 million in February, USD 1.350 million in March, USD 1.728 million in April, and USD 1.806 million in May.

Import Value Distribution

According to research recorded by DOSİAD, the highest import value during January-May of this year was recorded in March. Erzurum imported USD 3.291 million in January, USD 2.006 million in February, USD 5.333 million in March, USD 4.536 million in April, and USD 4.857 million in May.

The following data were recorded by the Ministry of Trade for the January-May period:

"In May, exports increased by 15.3% and imports increased by 43.5% under the general trade system. According to provisional foreign trade data produced under the general trade system created through cooperation between the Turkish Statistical Institute and the Ministry of Trade; in May 2022, exports increased by 15.3% compared to the same month of the previous year, reaching USD 18.984 billion, while imports increased by 43.5%, reaching USD 29.588 billion.

Year-on-Year Change

During the January-May period, exports increased by 20.4% and imports increased by 40.8%. Under the general trade system, exports in the January-May 2022 period increased by 20.4% compared to the same period of the previous year, reaching USD 102.469 billion, while imports increased by 40.8%, reaching USD 145.675 billion.

Growth Rates

In May, excluding energy products and gold, exports increased by 13.2% and imports increased by 22.6%. Excluding energy products and non-monetary gold, exports in May 2022 increased by 13.2%, rising from USD 15.472 billion to USD 17.514 billion. In May, excluding energy products and non-monetary gold, imports increased by 22.6%, rising from USD 17.339 billion to USD 21.264 billion. The foreign trade deficit excluding energy products and non-monetary gold reached USD 3.750 billion in May. The foreign trade volume increased by 18.2%, reaching USD 38.777 billion. The export-to-import coverage ratio excluding energy and gold was 82.4% in that month.

Foreign Trade Deficit

The foreign trade deficit in May increased by 155.2%. The foreign trade deficit in May rose by 155.2% compared to the same month of the previous year, increasing from USD 4.156 billion to USD 10.605 billion. The export-to-import coverage ratio declined from 79.8% in May 2021 to 64.2% in May 2022.

Five-Month Foreign Trade Deficit

The foreign trade deficit during the January-May period increased by 136.0%. During the January-May period, the foreign trade deficit increased by 136.0%, rising from USD 18.310 billion to USD 43.206 billion. The export-to-import coverage ratio declined from 82.3% in January-May 2021 to 70.3% during the same period in 2022.

Exports, Imports and Foreign Trade Balance

The share of manufacturing industry in total exports in May was 94.7%. By economic activity, in May 2022, the share of manufacturing industry in exports was 94.7%, while the share of agriculture, forestry and fishing was 2.9%, and the share of mining and quarrying was 1.9%. During the January-May period, by economic activity, the share of manufacturing industry in exports was 94.5%, the share of agriculture, forestry and fishing was 3.1%, and the share of mining and quarrying was 1.8%.

Intermediate Goods

The share of intermediate goods in total imports in May was 81.3%. By broad economic grouping in imports, in May 2022, the share of intermediate goods was 81.3%, the share of capital goods was 10.7%, and the share of consumer goods was 7.9%. During the January-May 2022 period, the share of intermediate goods in imports was 82.3%, the share of capital goods was 10.4%, and the share of consumer goods was 7.3%.

Germany leads in exports

Germany ranked first in exports during the January-May period. Exports to Germany amounted to USD 8.770 billion, followed by the United States with USD 7.102 billion, Italy with USD 5.466 billion, the United Kingdom with USD 5.281 billion, and Iraq with USD 5.168 billion. Exports to the top 5 countries accounted for 31.0% of total exports.

Russia leads in imports

The Russian Federation ranked first in imports during the January-May period. Imports from the Russian Federation amounted to USD 22.653 billion, followed by China with USD 16.416 billion, Germany with USD 9.502 billion, the United States with USD 6.248 billion, and Italy with USD 5.339 billion. Imports from the top 5 countries accounted for 41.3% of total imports.

Exports declined by 7.6%.

According to the seasonally and calendar-adjusted series, exports declined by 7.6%. According to the seasonally and calendar-adjusted series; in May 2022, exports declined by 7.6% compared to the previous month, while imports increased by 4.6%. According to the calendar-adjusted series; in May 2022, exports increased by 12.3% and imports increased by 40.0% compared to the same month of the previous year.

High-Technology Products

The share of high-technology products in manufacturing industry exports was 2.4%. Foreign trade data by technology intensity include manufacturing industry products classified under ISIC Rev.4. In May, the share of manufacturing industry products in total exports according to ISIC Rev.4 was 94.7%. The share of high-technology products in manufacturing industry exports was 2.4%. During the January-May period, the share of manufacturing industry products in total exports according to ISIC Rev.4 was 94.5%. During the January-May period, the share of high-technology products in manufacturing industry exports was 2.9%.

Manufacturing Industry

The share of manufacturing industry products in total imports in May was 72.9%. The share of high-technology products in manufacturing industry imports was 8.9%. During the January-May period, the share of manufacturing industry products in total imports was 68.6%. During the January-May period, the share of high-technology products in manufacturing industry imports was 9.8%.

Special Trade System

Under the special trade system, exports in May 2022 reached USD 17.598 billion. According to the special trade system, in May 2022, exports increased by 12.6% compared to the same month of the previous year, reaching USD 17.598 billion, while imports increased by 40.8%, reaching USD 27.193 billion. The foreign trade deficit in May increased by 159.6%, rising from USD 3.696 billion to USD 9.595 billion. The export-to-import coverage ratio declined from 80.9% in May 2021 to 64.7% in May 2022. Exports in the January-May 2022 period reached USD 96.323 billion. Under the special trade system, exports during the January-May 2022 period increased by 19.4% compared to the same period of the previous year, reaching USD 96.323 billion, while imports increased by 39.9%, reaching USD 138.960 billion. The foreign trade deficit during the January-May period increased by 128.6%, rising from USD 18.649 billion to USD 42.636 billion. The export-to-import coverage ratio declined from 81.2% in January-May 2021 to 69.3% during the same period in 2022.