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

26 June 2020
Turkey Export Data

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.



Month

Value USD Million

January

14,696

February

14,630

March

13,422

April

8,989

 

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.



Month

Value USD Million

January

13,128

February

13,538

March

15,431

April

14,438

 

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.


Product

Jan 2020 (Value USD Million)

Feb 2020 (Value USD Million)

Mar 2020 (Value USD Million)

Apr 2020 (Value USD Million)

Machinery

1,399

1,457

1,376

917

Iron and Steel

781

712

673

653

Electronics

736

747

704

531

Vehicles

2,126

2,175

1,741

517

Plastics

532

556

561

458

Articles of Iron and Steel

554

510

533

394

Edible Fruits and Nuts

447

371

366

309

Mineral Fuels and Oils

690

507

463

295

Knitted or  Crocheted Apparel or Clothing

759

734

584

270

Preparations of Vegetables, Fruits

189

179

223

213

 

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.


Country

Jan 2020 (Value USD Million)

Feb 2020 (Value USD Million)

Mar 2020 (Value USD Million)

Apr 2020 (Value USD Million)

Germany

1,412

1,341

1,282

861

United States

745

739

879

605

Iraq

816

904

489

563

Italy

883

766

541

400

United Kingdom

867

856

801

360

Netherlands

481

466

464

308

Spain

620

650

507

298

Israel

382

385

404

250

France

655

638

490

243

Egypt

296

316

279

222

 

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.

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