Turkey’s Exports Up in Jan-Feb 2020 but Down in Mar-Apr Amid Covid-19

26 June 2020

Turkey’s exports rose in January and February 2020 as compared to same months previous year. According to Turkey export data, the value of shipments departed from Turkey recorded USD 14,696 million in Jan 2020, while USD 13,128 million in Jan 2019. Similarly, the country shipped goods worth USD 14,630 million in Feb 2020, while USD 13,538 million in Feb 2019.

However, things got different in March and April 2020, when the Coronavirus, which originated in China’s Wuhan City started spreading in Turkey, which forced the country to go for lockdown. Today, millions are affected by Covid-19 all over the world and global economies have been shattered due to shutdown of industries and international trade.

Turkish Exports in Jan-Apr 2020

In first two months of 2020, Turkey recorded a rise in value of total exports. However, the business of Turkish exporters hit hard in March and April 2020 due to Covid-19 lockdown. In Mar 2020, Turkey’s exports valued USD 13,422 million, while USD 8,989 million worth of commodities was supplied in Apr 2020. Below given chart and table shows dollar amount of Turkey’s total exports recorded in first four months of 2020.

Turkish Exports in Jan-Apr 2019

If we compare the value of Turkish exports of Jan-Apr 2020 with same period last year, we found that Jan & Mar 2020 recorded a rise in Turkey’s exports from same months 2019. However, due to coronavirus pandemic and lockdown, Turkish suppliers did very low trade of goods in Mar & Apr 2020. As a result, Turkey’s exports declined drastically in these months as compared to these two months of 2019. Below given chart and table shows value of shipments departed from Turkey in Jan, Feb, Mar & Apr months of 2019.

Turkey’s Top 10 Exports 2020

Machinery was the largest export commodity in Jan-Apr 2020, which replaced vehicles. According to Turkey export statistics, vehicle stood at fourth position. In first fourth months of coronavirus 2020, Turkey shipped machinery, iron & steel, electronics, vehicles and plastics the most. Have a look at the list of Turkey’s top 10 exports with their dollar amount recorded from Jan to Apr 2020.

Turkey’s Top 10 Export Partners Jan-Apr 2020

From January to April 2020, Germany was the largest export destination of Turkey, with exports totaling USD 4,896. The highest value of shipments recorded in Jan, while lowest in Apr. Other major export partners of Turkey were United States, Iraq, Italy, and United Kingdom. Below given table shows dollar amount of Turkey’s top 10 export partners recorded in first four months of 2020.

This year, Turkey is expected to remain in a current account deficit as domestic demand returns and exports are hit by Covid-19. The outlook is uncertain as supply chains are hit by the coronavirus pandemic.