According to the TGDF (The Federation of Food and Drink Industry Associations of Turkiye) Digital Data Panel prepared by Agrimetre, based on the Foreign Trade Data announced by the Turkish Statistical Institute (TURKSTAT), in the first 5 months of 2022, the agriculture, food and beverage sector realized exports of 10.1 billion dollars and imports of 8.6 billion dollars. In the first 5 months of 2022, the sector’s foreign trade surplus decreased by 7.8% compared to the same period of the previous year.
According to the foreign trade data published within the framework of the Special Trade System (ÖTS), in the first 5 months of 2022, exports soared by 21.1% compared to the same period of the previous year and reached 10.05 billion dollars, while imports soared by 27.8% and reached 8.62 billion dollars. The fact that exports spent the first 5 months of 2022 with a rise of 21.1% compared to the previous year was considered positive for the sector, while the rate of increase in imports exceeded this rate (27.8%).
In May 2022, the monthly export value rose by 15.6% compared to the same month of the previous year and reached 1.76 billion dollars, while imports rose by 59.4% to 1.87 billion dollars. This huge increase in monthly imports drew attention.
Agriculture and food sector posted foreign trade deficit in April…
In the first 5 months of 2022, foreign trade surplus decreased by 7.8% compared to the same period of the previous year and amounted to 1.42 billion dollars. Although the sector maintained its net exporter position throughout the year, it had a foreign trade deficit on a monthly basis.
In the first months of the year, the increase in foreign trade surplus was 50% compared to the previous year. In March, this rate reached 101.5%. However, the high monthly import figures in April and May and the monthly foreign trade deficit brought the foreign trade surplus down.
The unit export value grew by 6.7% in the first 5 months of 2022 compared to the same period of the previous year and became 1.129 dollars/ton. Import unit value, on the other hand, grew by 11.9% compared to the previous year and reached 673 dollars/tonne.
Leading products in foreign trade…
In the first 5 months of 2022, the leading products in exports were Flour (0.54 billion dollars), Hazelnut (0.41 billion dollars) and Pasta (0.37 billion dollars), respectively, these products constituted approximately 13.1% of total exports. .
In the first 5 months of 2022, the most imported products were Wheat (1.4 billion dollars), Soybeans (0.9 billion dollars) and Crude Sunflower Oil (0.7 billion dollars), respectively. These 3 products accounted for approximately 34.8% of total imports, that is, more than 1/3.
The prominent products in exports in May 2022 were Wheat flour (103 million dollars), Refined sunflower oil (97.7 million dollars) and Frozen chicken meat (76.5 million dollars). In the same period, the most imported products were Wheat (349.6 million dollars), Soybeans (245.9 million dollars) and Crude sunflower oil (187 million dollars).