Turkey's Exports Achieved a New High Of $17.6 Billion In January, Marking a Strong Start To The Year

 Turkey has had a strong start to 2022, picking up where it left off last year, with exports reaching a new high in January, according to the commerce ministry.

However, energy imports nearly doubled in comparison to a year before, causing the country's trade imbalance to skyrocket, according to figures released by Trade Minister Mehmet Muş.

Muş told a gathering in the capital Ankara to present preliminary estimates that foreign sales increased 17.6% year on year to $17.6 billion (TL 236.82 billion) in January, an all-time quarterly high as per Turkey import-export data. Us stated that the export acceleration attained in 2021 has continued.

However, due to the extremely harsh winter weather and soaring energy prices, imports increased by 55.2 percent to $28 billion last month, according to the ministry.

The research and Turkey trade statistics revealed that energy imports accounted for about $9 billion of this total. Turkey's energy imports, which were $2.6 billion in January last year, started to flourish at the end of last year as demand increased and global energy costs rose. In December, they totaled $7.2 billion.

Turkey import data shows that Turkey is nearly entirely reliant on Russian, Azerbaijani, and Iranian energy imports to satisfy its energy demands. Due to a technical breakdown, Iran curtailed natural gas supplies last month, resulting in restricted electricity and gas production for Turkey's industrial zones.

In January, the country's trade imbalance increased by 240.7 percent year on year to $10.44 billion.

"Compared to the previous year, our international trade volume climbed by 38 percent to $45.6 billion in January," Muş remarked.

The increase in exports was fueled by a 57.8% gain in iron and steel exports, as well as a 2.5 percent increase in equipment and boiler exports and a 1.2 percent increase in automobile exports.

President Recap Tayip Erdogan wants his government's new economic policy, which focuses on low-interest rates, better exports, and credit, to lead to a current account surplus.

Turkey’s market analysis reports and Turkey import-export data reveal that Turkey's imports rose by about 33% year on year in 2021, reaching an all-time high of nearly $225.4 billion.

Imports increased by 23.6 percent to roughly $271.4 billion year over year, while overall international trade volume increased to $496.7 billion.

According to Erdogan, the country's end-of-year export objective has been revised upwards to $250 billion from roughly $230 billion.

Turkey's exports have reached all-time highs in 12 of the previous 13 months, after being battered by the epidemic in 2020, which hampered trade with Ankara's main trading partners.

Turkey Trade Statistics 2021

Based on Turkey Import statistics, Turkey's trade deficit in December 2021 was USD 6.79 billion, the highest since May 2018, as imports outpaced exports as commodity prices rose and the currency fell. Exports increased by 24.9 percent to a new high of USD 22.28 billion, boosted by sales of manufactured goods (25.8%) and agricultural commodities (16.2%), while mining and quarrying exports decreased (-2 percent).

Stats Related	Total Value	Unit	Reference Year
Total Imports of Turkey	$29069.50	USD Million	December-2021
Total Exports of Turkey	$22277.99	USD Million	December-2021
Trade Balance	$-6791.16	USD Million	December-2021
Current Account	$-3841	USD Million	December-2021

Since 1947, Turkey's trade balance has been negative. The trade deficit grew by 36.8% to USD 76.7 billion in 2017, as imports increased by 17.7%, the highest rate since 2011, while exports increased at a slower rate of 10.2% according to Turkey import-export data.

Looking Into Tanzania Export Data 2020 Summary And Custom Records Data

 The customized Tanzania Import Data Exim provides offers a full perspective of the nation’s trade market. Tanzania import data is a systematic record of research data and information sourced by the field of experts to assist businesses and traders in their various business-related operations.

Get access to Tanzania’s historic data and gain insights into the top imported and exported products of this country and know the exact HS Code for trade accuracy through Exim customized import-export trade data.

Discover new market places in the overseas markets and find new potential active buyers and suppliers for your foreign import-export trade business and stay ahead of your potential rivals in the global trade market.

Tanzania’s Complete Shipment Analysis Reports And Total Trade Value Throughout the Year

➢ The total trade value of Tanzania imports in the year 2017 was recorded at $9.12 billion.

➢ The total trade value of Tanzania imports in the year 2018 was recorded at $10.21 billion.

➢ The total trade value of Tanzania imports in the year 2019 was recorded at $10.36 billion.

➢ The total trade value of Tanzania imports in the year 2020 was recorded at $9.55 billion.

Buy systematic reports of Tanzania Import Data Year-Wise and gain crucial insights into the current and past import-export trade events that take place in Tanzania to form a better and strong marketing strategy for your global trade business.

Exports

➢ The total trade value of Tanzania exports in the year 2017 was recorded at $8.07 billion.

➢ The total trade value of Tanzania exports in the year 2018 was recorded at $8.40 billion.

➢ The total trade value of Tanzania exports in the year 2019 was recorded at $9.79 billion.

➢ The total trade value of Tanzania exports in the year 2020 was recorded at $8.92 billion.

Current Trade Statistics of Tanzania

➢ Trade Balance of Tanzania as of Sep 2021: $-562.30 million.

➢ Current Account of Tanzania as of Sep  2021: $-340.70 million.

➢ Total Imports Value of Tanzania as of Sep 2021: $2394.00 million.

➢ Total Exports Value of Tanzania as of Sep 2021: $1962.80 million.

What are the top products Tanzania Exports from other countries?

Tobacco & Manufactured Substitutes $201.4 million (3.9%), Fish $152.4 million (2.9%), Precious Metals & Gems $1.7 billion (32.6%), Fruits & Nuts $416.5 million  (8%), Copper $476.3 million (9.1%), Spices, Tea & Coffee $210.6 million (4%), Oilseeds $262.8 million (5%), Cereals $157.1 million (3%), Vegetables $219.8 million (4.2%), Ash, Ores & Slag $416.9 million (8%) were the top export commodities of Tanzania according to Tanzania Export Data 2020 and trade statistics. Buy Tanzania import-export customs reports and gain full access to the trade strategies importers and exporters use for their global trade business as well as get a hold of all the authorized HS Codes required for specific products to increase trade accuracy in overseas markets.

The market intelligence reports of Exim trade data help you connect with the companies that match your business profile as per the requirements of your services. Exim’s customized market research reports help you compare prices and taxes on the global level and assist you in your several business-related decisions. Get instant access to thousands of systematic market analysis reports and custom trade data and stay updated with the current market flow of the global trade market.

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Tanzania Export Trade Strategies & Shipment Data

To consistently grow your trade business in a global market, it is crucial for companies and businesses to have a proper understanding of their respective field of business and that’s exactly what Exim Trade Data does.

We assist companies and clients in various operations of their trade business, be it collecting information on the activities of the global trade market or analyzing the statistics and strategies of their potential business competitors. We are one-stop solutions for all of your business queries and problems.

For a free consultation and to book a free demo on how our customized data help you stay ahead of your competitors and maximize the overall productivity of your business, visit our official site.

The customs data that we have on Tanzania export is sourced from several authorized custom departments, trade associations, port authorities, government bodies, and Shipping and logistics companies.

TANZANIA’S CURRENT TRADE STATISTICS

➢ Tanzania export data 2017 shows the total export value of Tanzania was $8.07B

➢ Tanzania export data 2018 shows the total export value of Tanzania was $8.40B

➢ Tanzania export data 2019 shows the total export value of Tanzania was $9.79B

➢ Tanzania export data 2020 shows the total export value of Tanzania was $8.92B

CURRENT TANZANIA CUSTOM STATS

❖ Trade Balance of Tanzania as of Mar 2021:$-702.40 Million

❖ Total Imports Value of Tanzania as of Jun 2021: $2394 Million

❖ Total Export Value of Tanzania as of Mar 2021: $1295.80 Million

❖ Current Account of Tanzania as of Mar2021: $-702.40 Million

According to Tanzania export data 2020, Fish $152.4 million (2.9%), Oil seeds $262.8 million (5%), Tobacco manufactured substitutes $201.4 million (3.9%), Cereals $157.1 million (3%),  Fruits & nuts $416.5 million (8%), Coffee, tea & spices $210.6 million (4%), Copper $476.3 million (9.1%), Vegetables $219.8 million (4.2%), Ores, slag & ash $416.9 million (8%), Gems & precious metals US$1.7 billion (32.6% of total exports), were the major export of this country.

US IMPORT DATA & TOP IMPORTED PRODUCTS LIST

Exim Trade Data provides the most comprehensive and searchable US importers database that covers the overall trade statistics and strategies of this nation and assists your business in various key decision-making processes.

In 2020, the US was one of the top importer countries around the globe and the total import value of this country was totaled 2,407 billion, a decline of (-6.3%) compared to the total import value of 2019 which is $2,568 billion.

Precious Metals & Gems $60 billion (4.2%), Machinery including computers $182.6 billion (12.8%), Organic chemicals $34 billion (2.4%), Optical, technical & medical apparatus $83.4 billion (5.8%), Electrical machinery & equipment $162.9 billion (11.4%), Aircraft, spacecraft $80.9 billion (5.7%), Pharmaceuticals $53.9 billion (3.8%), Plastics & Articles of Plastics $60.2 billion (4.2%), Mineral fuels including oil $155.1 billion (10.8%), Organic chemicals $34 billion (2.4%), Vehicles $105.2 billion (7.3%), were some of the top imported products of the US as per the US importers database of 2020.

Our team and expert panel assists you in the overall operations of your import-export trade business across the globe and provide you with an overview on how you can multiply the overall sale value of your business and generate more leads and take your business to a higher level. 

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Afghanistan Global Trade Affected After The Unfortunate Takeover By Taliban

 In August 2021, in a matter of weeks, the Taliban seized control over Afghanistan, causing the democratically-elected government to collapse and a mass exodus of citizens and expatriates.

The Taliban, after the absence of 20 years, had taken control of Afghanistan.

From the look of it, Afghanistan’s formal economy is likely to crash. This would mean a humanitarian crisis, a refugee crisis, and political instability which is far worse than we are already seeing.

The key reason being that Afghanistan’s economy is heavily dependent on foreign trade. And there is no alternative that will make up for the sheer volume of funding that foreign countries have been providing for the last twenty years.

Afghanistan is staring right at a liquidity crisis. Around 80% of the Afghan government budget was funded by the United States and other foreign institutions.

40% of the country’s GDP which is 42.9% to be precise, came from foreign aid. Importantly, 4% of Afghanistan’s GDP comes from remittances, that’s money from overseas workers that get sent back home.

That’s one of the highest rates in the world and those remittances have not been able to reach Afghan people in the country who needs it.

EFFECTS OF TRADE UNDER THE CONTROL OF TALIBAN

This is no secret that trading is one of the most profitable businesses on the globe. We are trading internationally over the globe in the foreign market with various kinds of commodities.

Unfortunately, the trades have been affected in recent days in Afghanistan because of the Taliban. Afghanistan is under the risk factor by the control of the Taliban terrorist.

With the information available, it is stated that the incident will impact the whole world in a higher manner.

The business of import and export is widely affected by the interference of the Taliban terrorists.

After coming into power, the Taliban has started to implement their own rules & regulations, and terms & conditions causing instability in the global trades resulting in low level of import-export business. Therefore, the trade in this country is now declining.

However, many foreign countries depend on their importing products like spices, and dry fruits. Before the Taliban came into power, Afghanistan used to trade over millions of dollars, which is now lost.

Now the trade is derived by the new terms & conditions forced and implemented by Taliban Terrorists. This is so that the Taliban can apply additional charges for the import-export of the stocks.

With the increase in the interference of the Taliban, in the import-export business, many foreign institutions have canceled their tie-ups with Afghanistan.

ITEMS TRADING IN AFGHANISTAN

Export data of Afghanistan shows that they were trading in several goods over the globe, in the international market with different foreign institutions.

The top ten exports of Afghanistan according to its export data include Rugs and carpets with total coverage of around 45% of export. Dry fruits cover 31% of exports, and the rest 12% of coverage goes to drugs and medicinal plants for medical purposes.

 The import data of Afghanistan stated that the country stays dependent on the global trade for commodities such as apparatus, natural gas & petroleum, machinery, and other equipment, articles & metals, and other food products.

The current trade balance of Afghanistan according to the available data is around 6.36 billion USD deficit.

Both the trading of imports and exports after the collapse of Afghanistan are affected globally.

AFGHANISTAN TRADING PARTNERS

As per the list of the trade statistics 2021, the main global trade partners of Afghanistan include India, Iraq, Russia, Turkey, Iran, and Pakistan. At present, Turkey is taking over Afghanistan Airports for security measures.

Therefore it is difficult to even guess which of the countries will abandon or protect Afghanistan when the time comes.

CHALLENGES PEOPLE OF AFGHANISTAN ARE FACING WITH UNSATISFACTORY GLOBAL TRADE

The Taliban has closed all the possible portals that would bring opportunities for trading. Because of which demand for products used for daily life purposes is increasing in Afghanistan.

It is quite difficult and near to impossible for the people of Afghanistan to manufacture all the goods and products on their own in their country.

The lives of people in this country are in danger and require immediate action and help from world power.

CONCLUSION

In the above article, we have summarised the events taking place in the country of Afghanistan and how it is affecting the global trade of import and export.

 For any assistance regarding the Import-export business, you can connect with us @Info@eximtradedata.com as we provide up-to-date and highly researched import-export data based on the current market flow.