Reklam
Vakıf Katılım
Tarih : 2020-07-02 13:22:00

The foreign trade deficit at 2.84 billion USD in June

According to the leading June foreign trade data announced by the Ministry of Commerce within the scope of GTS (general trade system); Compared to the same month of the previous year, exports increased by 15.77% to 13.47 billion USD, while imports decreased by 8.24% in the same period to 16.31 billion USD. In this context, foreign trade deficit decreased by 17.31% in June period and became 2.84 billion USD.

In June, the country to which we export most was Germany, followed by England, the USA and Iraq. In import items; China took the first place in June 2020, followed by Germany, Russia and Iraq. When the groups of goods are analyzed, it is observed that exports and imports increased in all categories (capital, intermediate goods and consumption) thanks to the normalization conditions.

 

Due to the Covid-19 virus epidemic, both the demand and the trade volume on the export and import side caused a sharp contraction until May. We see that the increasing activity with the start of the opening up in the global economies as of June, reflected positively on the trade data. The continuity of this trend depends on the issue of combating the pandemic. Since exports depend on the foreign demand component, it is important that economies maintain at least the current position in the normalization process. On the import side, the determining factor of the increase in domestic demand, factory activity and unit costs, especially energy, should be monitored. At this point, the price effect should be taken into account as well as the volume. Although we’ll continue to monitor the current phases of the pandemic, if there is no closure, gradual improvement in the data may be seen in the coming months.

Source: Tera Menkul
Hibya News Agency
 

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