The recent massive earthquakes that struck 11 provinces in southeastern Türkiye, representing 8.6% of the country's exports, had a negative impact on foreign sales in the last month.
In February, exports decreased by 6.4% compared to the same month last year, totaling $18.6 billion, according to the data by the Trade Ministry Thursday.
In a statement released by the ministry regarding February's export figures, they acknowledged the devastating earthquakes centered in Kahramanmaraş’s Elbistan and Pazarcık districts and affected 11 provinces on Feb. 6. The ministry expressed their deepest sympathies to all those affected by the tragedy and extended their condolences to the whole country.
The statement further underlined that Türkiye’s export sector achieved significant success in 2022. The statement highlights the country's progress in both the export of goods and the export of services, reaching an important milestone.
In 2022, Türkiye's goods exports increased by 12.9% to reach $254.2 billion, while service exports increased by an impressive 46.5% to reach $90 billion.
Furthermore, the statement adds that exports have been a driving force of the country’s economic growth, accounting for 40% of the growth in the country. Throughout the year, the contribution of exports of goods and services to growth was a positive 2.2 points.
“These impressive figures indicate the strong potential of Türkiye’s export sector and its critical role in the country's economic growth,” it said.
The ministry, meanwhile, identified a significant decline in exports in quake-hit areas, particularly in Adıyaman, Hatay, Kahramanmaraş and Malatya, based on customs gate data.
Furthermore, the ministry acknowledged the earthquake had a direct downward effect on exports in February, amounting to $1.5 billion.
The ministry also noted that weak foreign demand and a lower euro-dollar parity compared to the same period in the previous year also contributed to the decline in exports.
The statement further explained that the euro-dollar parity reduced $529.2 million in exports.
Additionally, in February, imports reached $30.8 billion, with 22% of this figure attributed to energy imports.
It emphasized that the increase in imports was mainly due to the import of unprocessed gold, which accounted for $3.7 billion (an 858.7% increase) during the period and reached $4.1 billion. The import of machinery also increased, with a total of $2.9 billion (a 22.2% increase), while electrical machinery imports reached $2.1 billion (a 40.5% increase).
