Turkey - Trade Balance

by Eduardo Petazze

In 1Q2014 the export volume index increased by 11.0% Y/Y and import increased by 0.5% Y/Y

The Turkish Statistics Institute released foreign trade indicators for the month of March 2014The following summary data from the Balance of Payments, and comparison with GDP data, including our own projection for the rest of the year.

Annual and quarterly data

Monthly data

Also see: Foreign Trade Statistics, April 2014

Current GDP – million TL Exports (BoP) Imports (FOB, BoP) Balance (BoP)Exports Imports Total Goods Service Total Goods Service Total Goods Service

222,103 -232,632 2009 145,359 109,647 35,712 -151,584 -134,497 -17,087 -6,225 -24,850 18,625233,046 -294,036 2010 157,181 120,902 36,279 -196,910 -177,315 -19,595 -39,729 -56,413 16,684311,148 -423,670 2011 184,064 143,396 40,668 -253,049 -232,533 -20,516 -68,985 -89,137 20,152372,563 -445,707 2012 206,310 163,221 43,089 -249,079 -228,552 -20,527 -42,769 -65,331 22,562401,429 -504,102 2013 210,013 163,365 46,648 -266,905 -243,381 -23,524 -56,892 -80,016 23,124474,467 -550,804 2014 225,116 175,087 50,030 -263,908 -238,676 -25,232 -38,791 -63,589 24,798

Own estimateCurrent GDP – million TL Exports (BoP) Imports (FOB, BoP) Balance (BoP)

Exports Imports Total Goods Service Total Goods Service Total Goods Service78,935 -104,742 2012Q1 43,843 37,450 6,393 -58,510 -54,151 -4,359 -14,667 -16,701 2,03494,637 -115,824 2012Q2 52,279 41,446 10,833 -64,622 -59,338 -5,284 -12,343 -17,892 5,549

101,655 -112,558 2012Q3 56,221 41,245 14,976 -62,853 -57,491 -5,362 -6,632 -16,246 9,61497,336 -112,583 2012Q4 53,967 43,080 10,887 -63,094 -57,572 -5,522 -9,127 -14,492 5,36584,795 -110,278 2013Q1 47,403 39,696 7,707 -62,171 -56,911 -5,260 -14,768 -17,215 2,44798,332 -128,924 2013Q2 53,403 41,280 12,123 -70,807 -64,658 -6,149 -17,404 -23,378 5,974

109,036 -128,102 2013Q3 55,303 39,763 15,540 -65,728 -59,889 -5,839 -10,425 -20,126 9,701109,265 -136,798 2013Q4 53,904 42,626 11,278 -68,199 -61,923 -6,276 -14,295 -19,297 5,002106,428 -124,291 2014Q1 51,916 43,566 8,350 -61,227 -55,553 -5,674 -9,311 -11,987 2,676118,947 -143,446 2014Q2 57,186 44,319 12,867 -69,634 -63,062 -6,572 -12,448 -18,742 6,294125,564 -139,547 2014Q3 59,089 42,201 16,888 -66,293 -59,964 -6,329 -7,204 -17,763 10,559123,529 -143,520 2014Q4 56,926 45,001 11,925 -66,754 -60,097 -6,656 -9,828 -15,097 5,269

Last dataOwn estimate

Million USD

Million USD

Exports (BoP) Imports (FOB, BoP) Balance (BoP)Total Goods Service Total Goods Service Total Goods Service

Jan-13 14,741 12,331 2,410 -19,978 -18,204 -1,774 -5,237 -5,873 636Feb-13 15,662 13,262 2,400 -20,463 -18,754 -1,709 -4,801 -5,492 691Mar-13 17,000 14,103 2,897 -21,730 -19,953 -1,777 -4,730 -5,850 1,120Apr-13 16,666 13,555 3,111 -24,077 -21,880 -2,197 -7,411 -8,325 914May-13 18,790 14,435 4,355 -24,451 -22,472 -1,979 -5,661 -8,037 2,376Jun-13 17,947 13,290 4,657 -22,279 -20,306 -1,973 -4,332 -7,016 2,684Jul-13 18,745 13,899 4,846 -24,430 -22,250 -2,180 -5,685 -8,351 2,666Aug-13 17,487 11,918 5,569 -19,503 -17,655 -1,848 -2,016 -5,737 3,721Sep-13 19,071 13,946 5,125 -21,795 -19,984 -1,811 -2,724 -6,038 3,314Oct-13 18,349 13,068 5,281 -21,004 -18,942 -2,062 -2,655 -5,874 3,219Nov-13 18,608 15,357 3,251 -22,584 -20,716 -1,868 -3,976 -5,359 1,383Dec-13 16,947 14,201 2,746 -24,611 -22,265 -2,346 -7,664 -8,064 400Jan-14 16,105 13,457 2,648 -20,543 -18,650 -1,893 -4,438 -5,193 755Feb-14 16,695 14,138 2,557 -19,429 -17,614 -1,815 -2,734 -3,476 742Mar-14 19,116 15,971 3,145 -21,255 -19,289 -1,966 -2,139 -3,318 1,179Apr-14 16,866 13,449 3,418 -22,835 -20,662 -2,173 -5,969 -7,214 1,245May-14 19,498 14,965 4,533 -24,085 -21,891 -2,194 -4,587 -6,927 2,340Jun-14 19,369 14,453 4,916 -23,058 -20,852 -2,206 -3,689 -6,399 2,710Last dataOwn estimate

Million USD