Export Unit Value Index Rose by 9.5%

Turkey's Foreign Trade Indices for February 2022 released by Turkish Statistical Institute (TÜİK). According to these data, the export unit value index in February showed a 9.5% increase compared to the same month of the previous year. The index increased by 54.2% in fuels, 16.7% in raw materials (excluding fuel), 8.7% in manufacturing (excluding food, beverages, and tobacco), and 1.1% in food, beverages, and tobacco, compared to the same month of the previous year.

Export quantity index rose 14.5%

The export quantity index in February increased by 14.5% compared to the same month of the previous year. The index rose by 24.2% in food, beverages, and tobacco, 14.5% in raw materials (excluding fuel), and 15.2% in manufacturing (excluding food, beverages, and tobacco), while it declined by 7.5% in fuels, compared to the same month of the previous year.

Import unit value index showed 36.5% increase

In February, the import unit value index increased by 36.5% compared to the same month of the previous year. The index rose by 13.7% in manufacturing (excluding food, beverages, and tobacco), 16.6% in food, beverages, and tobacco, 23.8% in raw materials (excluding fuel), and 177.4% in fuels, compared to the same month of the previous year.

Import quantity index increased 5.9%

According to data released by the Turkish Statistical Institute (TÜİK), the import quantity index in February increased by 5.9% compared to the same month of the previous year. The index rose by 1.6% in food, beverages, and tobacco, 8.7% in raw materials (excluding fuel), 1.6% in fuels, and 12.0% in manufacturing (excluding food, beverages, and tobacco), compared to the same month of the previous year.

Seasonally and calendar-adjusted export quantity index declined 1.5%

The export quantity index, which was 152.7 in January 2022, decreased by 1.5% according to the seasonally and calendar-adjusted series, reaching 150.4 in February 2022. According to the calendar-adjusted series, the export quantity index, which was 124.9 in February 2021, increased by 14.5%, reaching 143.1 in February 2022.

Seasonally and calendar-adjusted import quantity index declined 1.0%

According to the seasonally and calendar-adjusted series, the import quantity index, which was 116.7 in January 2022, decreased by 1.0%, reaching 115.5 in February 2022. According to the calendar-adjusted series, the import quantity index, which was 101.8 in February 2021, increased by 5.9%, reaching 107.8 in February 2022.

Terms of trade in February 2022 reached 76.3

Terms of trade is calculated by dividing the export unit value index by the import unit value index. The terms of trade, which was 95.1 in February 2021, declined by 18.8 points in February 2022, reaching 76.3.