The decreasing trend in the foreign trade deficit for the past two months has turned into an increase. The foreign trade deficit rose to $5.129 billion.

Preliminary foreign trade data for September, created through the collaboration of the Turkish Statistical Institute (TÜİK) and the Ministry of Trade, was announced. According to this data, within the General Trade System, exports in September saw a 1.9% decrease compared to the same month of the previous year, amounting to $21.987 billion, while imports decreased by 1.4% to $27.116 billion. The foreign trade deficit increased by 0.7% in September compared to the same month the previous year, reaching $5.129 billion. The export-to-import ratio decreased from 81.5% in September 2023 to 81.1% last month. THE FOREIGN TRADE DEFICIT DECREASED BY 33.1% IN THE JANUARY-SEPTEMBER PERIOD

In the January-September period, exports increased by 2.6% compared to the same period of the previous year, totaling $191.754 billion, while imports decreased by 8.1% to $252.183 billion. The foreign trade deficit decreased by 33.1% from $87.664 billion to $60.430 billion in the January-September period. The export-to-import ratio increased from 68.1% in January-September 2023 to 76% in the same period of this year. FOREIGN TRADE EXCLUDING ENERGY AND GOLD

Excluding energy products and non-monetary gold, exports increased by 2.9% in September, reaching $20.819 billion from $20.231 billion. Imports excluding energy products and non-monetary gold saw a 4.5% increase, rising to $21.203 billion from $20.286 billion in September. The foreign trade deficit excluding energy products and non-monetary gold amounted to $383 million in September. The foreign trade volume increased by 3.7% to $42.022 billion in the same month. The export-to-import ratio, excluding energy and gold, was determined to be 98.2% for that month. MANUFACTURING INDUSTRY ACCOUNTS FOR 94.5%

When looking at economic activities, the share of the manufacturing industry in exports in September was 94.5%, with agriculture, forestry, and fishing sectors at 3.4%, and mining and quarrying sector at 1.6%. In exports based on economic activities for the January-September period, the share of the manufacturing industry was determined to be 94.3%, with agriculture, forestry, and fishing sectors at 3.5%, and mining and quarrying sector at 1.7%. According to the classification of broad economic groups, the share of intermediate goods in imports in September was 67.7%, capital goods at 16.1%, and consumer goods at 15.6%. In imports, intermediate goods accounted for 69.5% in the January-September period, with capital goods at 14.9%, and consumer goods at 15.4%. GERMANY LEADS IN EXPORTS, CHINA LEADS IN IMPORTS

Germany took the lead in exports by countries in September with $1.680 billion. It was followed by the United Kingdom with $1.400 billion, the U.S. with $1.263 billion, Iraq with $1.133 billion, and Italy with $1.048 billion. The export to these top 5 countries constituted 29.7% of total exports. In the January-September period, Germany also led in exports with $15.295 billion, followed by the U.S. with $11.789 billion, the United Kingdom with $11.151 billion, Iraq with $9.514 billion, and Italy with $9.323 billion. The exports to these top 5 countries represented 29.8% of total exports. China led the imports in September. Imports from China totaled $3.737 billion, followed by Russia with $3.304 billion, Germany with $2.521 billion, Italy with $1.412 billion, and the U.S. with $1.392 billion. The imports from these top 5 countries made up 45.6% of total imports. In the January-September period, China remained at the top in imports with $33.130 billion, followed by the Russian Federation with $32.483 billion, Germany with $19.816 billion, Italy with $13.802 billion, and the U.S. with $12.231 billion. The imports from these top 5 countries accounted for 44.2% of total imports. SHARE OF HIGH-TECH PRODUCTS IN MANUFACTURING INDUSTRY EXPORTS IS 3.9%

According to seasonally and calendar-adjusted series, exports decreased by 1.2% in September compared to the previous month, while imports increased by 1%. According to the calendar-adjusted series, exports decreased by 1.2%, and imports by 1.4% in September compared to the same month of the previous year. Foreign trade data, based on technological intensity, includes manufacturing industry products under the “ISIC Rev.4” classification. The share of manufacturing industry products in total exports in September according to this classification was 94.5%. The share of high-tech products in manufacturing industry exports was recorded as 3.9%. In the January-September period, the share of manufacturing industry products in total exports according to ISIC Rev.4 was 94.3%, with the share of high-tech products in manufacturing industry exports at 3.4%. The share of manufacturing industry products in total imports in September was 83.9%. The share of high-tech products in manufacturing industry imports was recorded as 12.6%. In the January-September period, the share of manufacturing industry products in total imports was 81.4%, with the share of high-tech products in manufacturing industry imports at 11.2%. SPECIAL TRADE SYSTEM DATA

According to the Special Trade System, in September, exports decreased by 1.9% to $19.989 billion compared to the same month of the previous year, while imports decreased by 1.4% to $25.348 billion. The foreign trade deficit increased by 0.3% in September, rising from $5.344 billion to $5.358 billion. The export-to-import ratio decreased from 79.2% in September 2023 to 78.9% in the same month of this year. According to the Special Trade System, exports in the January-September period increased by 2.1% to $173.417 billion compared to the same period of the previous year, with imports decreasing by 8.5% to $234.822 billion. The foreign trade deficit decreased by 29.3% from $86.807 billion to $61.404 billion in the January-September period. The export-to-import ratio increased from 66.2% in January-September 2023 to 73.9% in the same period of this year.