According to GTS, exports decreased by 17,81% in March compared to the same month of the previous year and reached 13 billion 426 million dollars. In the January-March period of 2020, our exports decreased by 3,93% to $ 42,8 billion.
Due to the Covid-19 epidemic, which affected the whole world in a very negative way both socially and economically in March, quarantine measures in our neighboring countries, Iraq and Iran, and market and demand shrinkage in EU countries were the main reasons for the decline in our March exports. This decrease observed in March caused our exports, which increased by 2% in the first 4,1 months of the year, to grow negatively as of the 3-month period.
When we look at the last 12 months, it is seen that our exports increased by 0,4% compared to the previous period and reached 179 billion 98 million dollars. In March, our imports increased by 3,13% to $ 18 billion 821 million.
OUR FOREIGN TRADE DEFICIT WAS ABOUT 5 BILLION DOLLARS IN MARCH
While our foreign trade deficit was realized as 5 billion 395 million dollars in March, our foreign trade volume decreased by 6,76% compared to the same month of the previous year and became 32 billion 247 million dollars.
The ratio of our exports to imports in March 2020 was 71,3%; In January-March period, it was realized as 76,9%. On the other hand, the ratio of exports to imports rises to 78,2%, excluding unprocessed or semi-processed gold.
IN MARCH, THERE WAS “MOTOR LAND VEHICLES” FOR THE FASIL THAT WE HAVE EXPORTED THE MOST EXPORT
Our exports in “Motor Vehicles” section decreased by 31,19% in March and reached 1 billion 741 million dollars. Other chapters we exported most in March were “Boilers and machinery” ($ 1 billion 377 million) and “Electrical machinery and equipment” ($ 705 million), respectively.
THE COUNTRY WE EXPORT TO GERMANY
In March, the countries that we export most were Germany, the USA and the UK respectively, while the top three in imports were Germany, the USA and China. In March, our exporters managed to reach 205 different export markets. Our exports to the US in March were 11,97% compared to the same month of the previous year; It increased by 6,02% to the Russian Federation and 5,79% to the Netherlands.
OUR BIGGEST 3 TOP EXPORT MARKETS CREATE 22,1% OF OUR TOTAL EXPORT
According to GTS, while the top three countries that we export the most are 22,1% of our total exports as of March, the share of the top three countries that we import the most from our total imports was 25,7%.
On the other hand, due to the Covid-19 outbreak, Iraq, Italy, Spain, Germany and France were the top 5 countries in terms of value decrease in March in terms of value. While the share of these countries in our total exports was 2019% in March 29,50, it decreased by 2020 points in March 4,8 and decreased to 24,68%. On the other hand, the decrease in our exports to these countries corresponds to 2% of the total decrease of 910 billion 51,76 million dollars in our exports in March.
Similarly, in March, the exports we made to the European Union countries decreased by 22,26% compared to the same month of the previous year and 6 billion 205 million dollars. Our exports to these countries accounted for 46,2% of our total exports.
The increase in exports of 2020% to Venezuela, 136,1% to Pakistan, 35,1% to Turkmenistan and 31,5% to the USA was observed in March 12,0.
For foreign trade data in March 2020 Click here