Foreign trade in Turkish lira up 39.4% in January-February

Foreign trade in Turkish local currency reaches around $6.6B, according to official data

By Mert Davut

Foreign trade in Turkish lira rose 39.4% to 207.7 billion Turkish liras ($6.6 billion) year-on-year in the first two months of 2024, according to data by Trade Ministry, compiled by Anadolu.

Exports in February increased by 13.6% on an annual basis, reaching $21.8 million, making it the highest February export value in the history of the country.

As for exports in Turkish lira, the figure soared 69.4% year-on-year to 30.9 billion Turkish liras ($982.6 million) in January, and imports also rose 68.1% to 81.1 billion liras ($2.5 billion).

In January, the foreign trade volume in Turkish lira hiked 68.5% to 112.1 billion Turkish liras ($3.5 billion).

In January 2023, exports amounted to 18.2 billion Turkish liras ($578.7 million), while imports were calculated as 48.2 billion Turkish liras ($1.5 billion), with foreign trade volume at 66.5 billion Turkish liras ($2.1 billion).

Exports in Turkish lira surged 19.6% in February to 25.1 billion Turkish liras ($798.1 million), and imports by 14.7% to 70.4 billion Turkish liras ($2.2 billion), while the foreign trade volume was 95.6 billion Turkish liras ($3 billion), up 15.9% year-on-year.

Last year in February, the ministry recorded 21.1 billion Turkish liras ($670.9 million) in exports and 61.4 billion Turkish liras ($1.9 billion) in imports, with foreign trade volume calculated at 82.4 billion Turkish liras ($2.6 billion).

The foreign trade volume in the January-February 2023 period was 149.2 billion Turkish liras ($4.7 billion).

The same period saw exports of 39.2 billion Turkish liras ($1.2 billion), while the period of January-February 2024 recorded 56.1 billion Turkish liras ($1.7 billion) in exports.

In the two-month period, imports increased from 109.7 billion Turkish liras ($3.4 billion) to 151.6 billion Turkish liras ($4.8 billion).

As for the foreign trade volume in the same period, it climbed by 39.4% year-on-year, reaching 207.7 billion Turkish liras ($6.6 billion).

- Exports in Turkish lira reach 168 countries in 2024

Exports were made to 164 countries in Turkish lira in January, with 31,000 companies using the currency in their exports.

As for February, the number of countries reached 168, and the number of companies using the Turkish lira climbed to 32,300.

*Writing by Emir Yildirim

Kaynak:

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