Export Unit Value Index Announced

Export Unit Value Index Released Turkey's Statistical Institute announced foreign trade indices for December 2022. According to the data, the export unit value index rose 7% in December 2022 compared to the same month of the previous year. The index recorded increases of 12.4% in food, beverages and tobacco, 1.9% in raw materials (excluding fuel), 27.5% in fuel, and 5.6% in manufacturing (excluding food, beverages and tobacco) during this period. The export unit value index rose 4.9% in the fourth quarter of 2022 compared to the same quarter of the previous year. The index showed a 7.9% increase in 2022 compared to the previous year. The import unit value index rose 8.6% year-on-year in December 2022. Compared to the same month of the previous year, the index increased 0.3% in food, beverages and tobacco, 33.6% in fuel, and 1.3% in manufacturing (excluding food, beverages and tobacco), while raw materials (excluding fuel) declined 8.8%. The import unit value index rose 9.2% in the fourth quarter of 2022 compared to the same quarter of the previous year. The index recorded a 23.9% increase in 2022 compared to the previous year.  

Export quantity index increased 4.8%

  Export quantity index declined 3.7% in December 2022 compared to the same month of the previous year. Compared to the same month of the previous year, the index declined 3.6% in food, beverages and tobacco, and 4.4% in manufacturing (excluding food, beverages and tobacco), while raw materials (excluding fuel) increased 19.2% and fuel increased 10.5%. The export quantity index declined 2.1% in the fourth quarter of 2022 compared to the same quarter of the previous year. The index showed a 4.8% increase in 2022 compared to the previous year. The import quantity index showed a 3.3% increase year-on-year in December 2022. Compared to the same month of the previous year, the index declined 3.2% in food, beverages and tobacco, 32.9% in raw materials (excluding fuel), and 14.6% in fuel, while manufacturing (excluding food, beverages and tobacco) increased 6.1%. The import quantity index increased 8.3% in the fourth quarter of 2022 compared to the same quarter of the previous year. The index also showed an 8.2% increase in 2022 compared to the previous year. According to the series adjusted for seasonal and calendar effects, the export quantity index reached 158.3 in December 2022, rising 8.6% compared to November 2022. According to the series adjusted for calendar effects, the export quantity index, which stood at 160.5 in December 2021, rose 0.3% to 160.9 in December 2022. According to the series adjusted for seasonal and calendar effects, the import quantity index, which stood at 118.7 in November of the previous year, rose 2.9% to 122.2 in December. According to the series adjusted for calendar effects, the import quantity index, which was 124.3 in December 2021, increased 6.5% to 132.4 in December 2022. The terms of trade, calculated by dividing the export unit value index by the import unit value index and which stood at 82.8 in December 2021, fell 1.3 points to 81.5 in December 2022. The terms of trade declined 3.2 points in the fourth quarter of 2022 compared to the same period of the previous year, reaching 77.9. The terms of trade fell 11.1 points in 2022 compared to the previous year, declining to 74.8. Source: (AA)