Despite the devastating earthquakes, Türkiye saw an increase in exports in March to the tune of $23.6 billion, a 4.4% year-on-year rise, the country’s trade minister said Tuesday.
The twin quakes in early February hit 11 provinces. The share of these regions in the country’s overall exports was at 8.6% in 2022, Mehmet Mus said at a press briefing in Istanbul.
The country’s imports increased
Türkiye’s imports also rose by 4.2% to $32.2 billion in March, the minister added. The country’s foreign trade balance posted a gap of $8.26 billion in the month, the Turkish Exporters Assembly (TIM) data showed.
Meanwhile, Türkiye’s exports in the first quarter amounted to $61.6 billion, up 2.5%, while imports rose by 11.4% to $96.5 billion, Mus said. The foreign trade gap was at $34.9 billion in the first quarter of this year, according to TIM figures.
Germany is at the top in Turkish exports
The TIM data showed that Germany was the main destination for Turkish exports in March with $2 billion, followed by the US ($1.38 billion), and Italy ($1.19 billion).
The main import destinations for the country in March were Russia ($3.99 billion), China ($3.78 billion), and Germany ($2.69 billion). The EU’s imports from Türkiye totaled $9.76 billion in March, while its exports to Türkiye amounted to $10.12 billion.