Exports climb record monthly high of $23.4 billion in June

Türkiye's exports reached $23.4 billion in June, marking the highest monthly figure on record, data from the Trade Ministry showed on July 2.

Exports increased by 18.5 percent last month from a year ago.

The country's imports, on the other hand, rose by 39.6 percent on an annual basis to stand at $31.5 billion.

Consequently, Türkiye's trade balance posted a deficit of $8.16 billion, widening by 184 percent from the trade gap of $2.87 billion in the same month of 2021.

The export-to-import coverage ratio deteriorated from 87.3 percent in June last year to 74.1 percent last month.

The country's foreign trade volume grew nearly 30 percent to $54.95 billion.

Türkiye managed to increase its exports to Germany by 9.8 percent in June from a year ago to $1.87 billion. Shipments to the U.S. rose more than 15 percent to $1.55 billion, making it the country's second-largest export market.

The data from the ministry also showed that exports to Iraq leaped 32 percent on an annual basis to $1.2 billion. Türkiye made exports worth $1.2 billion to the U.K. and another $1.14 billion to Italy last month.

The European Union increased its goods purchases from Türkiye by 17.8 percent to $9.7 billion, while exports to the Near and Middle Eastern countries amounted to $3.86 billion, rising 26.3 percent from a year ago.

The manufacturing sector's share in the country's exports was 95 percent or $2.2 billion, while the share of the agriculture industry was 2.9 percent or $668 million.

Türkiye's imports from Russia grew more than 118 percent to $5 billion, and imports from China increased by 28.6 percent to $3.7 billion. The country increased imports from Germany by 4 percent to nearly $2 billion last month.

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