Turkey’s Exports Recorded a Hit Of $17.6 Billion At The Start Of 2022

 Turkey has made a floating start to 2022 as the exports of Turkey hit a record high in Jan 2022 with a total exports value of $17.6 billion. International trade sales increased by 17.6% Y-O-Y to $17.6 billion, an all-time monthly high according to Turkey import-export data.

The minister said the increase in the acceleration of production in last year has helped maintain its pace in 2022. However, due to the rising energy prices and unexpectedly winter conditions, Turkey's imports spiked 55.2% to $28 billion in Jan 2022.

Turkey import and export data shows that Turkey’s energy imports accounted for $9 billion. As of Jan 2022, Turkey’s trade deficit has increased 240.7% Y-O-Y  to 10.44 billion.

The foreign trade volume of Turkey has increased by 38% to 45.6 billion in January 2022 compared to 2021. Turkey’s exports increased nearly 33% Y-OY to an all-time high of $225.4 billion last year.

While the overall international trade volume of Turkey leaped to $496.7 billion, Turkey’s imports jumped up to 23.6% Y-OY to approximately $271.4 billion.

Data of Turkey imports suggest that Turkey”s exports value might hit around $250 billion by the end of 2022.

For an in-depth analysis of Turkey’s import and export trade data and activities, you can buy customized import-export from Exim as we are one of the largest leading and emerging global import-export customs trade data services and solution provider companies in the world.

Exim offers world-class on-point global trade market analysis reports and customs trade data. The data allow you to track and monitor the supply and demand of your product and services in the world trade market.

You can also track the performance of your services and products based on the demand and consumption on a global level and form your business strategy accordingly offering you more business opportunities for your global trade business.

Turkey’s Major Imports

In 2020, Turkey imported goods worth $219.4 billion from all around the globe, an increase of 10.5% from 2016 and an increase of 9.3% from 2019.

Turkey import and export data 2019 show that products such as Mineral Oils & Fuels, Machinery & Computers, Vehicles, Precious Metals & Gems, Electrical Machinery & Equipment, Plastics & Articles of Plastics, Steel & Iron, Pharmaceuticals, Organic Chemicals, and Technical, Optical & Medical apparatus were the top imports of Turkey.

Commodity	Value in USD ($)	Total Share in %
Mineral Oils & Fuels	$28.9 billion	13.2%
Gems & Precious Metals	$26.6 billion	12.1%
Machinery including Computers	$25.2 billion	11.5%
Electrical Machinery & Equipment	$17.1 billion	7.8%
Vehicles	$15.3 billion	7%
Iron & Steel	$15.1 billion	6.9%
Plastics & Articles of Plastic	$11.7 billion	5.3%
Organic Chemicals	$5.9 billion	2.7%
Pharmaceuticals	$5 billion	2.3%
Technical, Optical, and Medical Apparatus	$4.7 billion	202%

These top commodities of Turkey accounted for 70.9% of the overall import value for this country in 2020.

For more info on Turkey's import-export trade data and activities, you can connect to us on our official website as Exim provides top-notch import-export marketing intelligence reports on all global countries. The data assists businesses and companies in their various business-related decision-making processes.

The data also help our clients evaluate the most effective and profitable trade strategy according to the global market demand and consumption rate. 

The Impact Of Covid-19 On The World Economy import Export business

 Before we go any further with today’s topic, it is important for us to acknowledge how the novel spread of coronavirus has affected the financial stability of countries globally? The pandemic has shattered the economy of many countries. Creating challenges and impacting the lives of people in everyday life.

Economic contractions in a post-COVID-19 will lead to a decline in consumer or you can say end-user spending such as higher education payout.

Families going through financial problems or facing an uncertain economic future will be reluctant to send their children to expensive schools. University and colleges students will continue to have an incompetent online learning experience.

ECONOMIC IMPACTS OF COVID-19

❖ In May 2020, the Asian development bank stated that the novel spread of Coronavirus could cost the world economy somewhat around $5.8 and $8.8 trillion. 

❖ President of the  European Central Bank, Christine Lagarde, apprised in April 2020 that the economy of the Eurozone could reduce by as much as 12% in 2020. And in August there were more than 15 million unemployed people in the European Union.

❖ The gross domestic product for the United States according to the Bureau of Economic Analysis has decreased at an annual rate of 48% for the first quarter of 2020 and 32.9% in the second quarter. Compared to 2019, consumer spending has decreased to 10% in 2020.

❖ In the second quarter of 2020, the economy of the United Kingdom contracted to 20.4%.

❖ In the second quarter of 2020, and after almost 30 years of growth, Australia fell into a recession after its economy reduced to 7%.

❖ In August 2020, South Korea officially entered into a recession, the first time in 17 years. 

❖ It is projected that the Latin American economies will decline by 9.4% this year.

 CORONAVIRUS: PANDEMIC & THE CHANGE IN THE WORLD ECONOMY 

As we all know, the spread of the novel coronavirus; pandemic has reached and has affected the economy of almost every country on the globe.  The spread of the novel Coronavirus has left the economies and businesses counting the costs of many countries all around the globe, as the government struggles with the new measures to fight the spread of COVID-19 and the falling economy.

 ★ ECONOMIC IMPACTS SO FAR

➢ Global shares are in flux: We have seen huge shifts in the stock markets after the spread of  COVID-19.  The Financial Times Stock Exchange, the Nikkei, and Dow Jones Industrial Average all saw huge falls as the number of the novel Coronavirus cases grew in the starting months of the crisis. After the announcement of the first vaccines in the month of November, the major countries and economies such as the United States and the Asian stock market have seen to be recovered, but the Financial Times Stock Exchange is yet to recover, as it is still in negative territory. The Financial Times Stock Exchange reduced to 14.3% in the year 2020, which is said to be the worst performance since the year 2008. In support, in many countries including the UK, central banks have slashed interest rates to make borrowing cheaper and to encourage consumers, businesses, and marketers to spend, which will help boost the economy.

➢ Tough time for Job seekers: Many people have lost their job in this pandemic after the spread of the novel coronavirus. Unemployment rates have increased in many countries and economies. According to the IMF (International Monetary Fund), the proportion of people out of work marked a yearly total of 8.9% in the United States, pointing at an end to a decade of jobs expansion. In many countries, the number of new job opportunities are still very low.

➢  Countries are now in economic decline: The growing economy indicates more wealth and more job opportunities. The growth in the economy is measured by the percentage change in gross domestic product or the amount of commodities and services produced over a year. The international monetary fund evaluated the world economy to be reduced by 4.4% in 2020. China was the only major economy to grow in 2020 with a registered rate of 2.3%.

➢ Travel Industry:  The travel industry has been badly affected after the spread of the COVID-19 virus with airlines reducing flights and the customers canceling their business trips and vacations. With the spread of the coronavirus and with the discoveries of its new variants in recent days, have forced governments of many countries to implement strict rules on public safety, and to restrict foreign travel activities to avoid any further damage.

➢ Hospitality Sector: With millions of jobs and many companies going bankrupt, the hospitality sector has been hit really hard and affected the lives of millions of people worldwide. Information from Transparent- a sector-leading intelligence company that covers more than 35 million hotel and renting listings all over the globe has registered a fall in reservation in all top travel destinations. Billions of dollars have been lost in the pandemic in 2020. According to many experts and analysts, it is stated that tourism won’t return to normal until 2025.

CONCLUSION

In the above article, we have summarised events that took place during the outburst of the Novel Coronavirus and the challenges the world has to face, and how it affected the world economy? We hope you find this article informative. For any query related to the import-export trade data, feel free to connect to us at info@eximtradedata.com or visit site:https://eximtradedata.com/

Welcome To Exim Trade Data World’s Best Trade Data Company

 In order for you to run a successful business in import and export, you must have authentic and accurate data on import and export that includes all the important and essential information about companies and businesses. And that is exactly what we do at EXiM trade data.

EXiM trade data is one of the fastest leading and emerging import-export data trade services providers and market research companies in the globe.

EXiM trade data provides Systematic Import-Export trade data over 60+ countries all around the globe. We assist the companies to analyze and study the market and its trend to help companies make the right decision at the right time minimizing all the possible risks.

EXiM trade data is highly specialized and has a creative team that has the expertise of decades in the field of import-export trade data.

At EXiM, we use the latest techniques & technology to derive authentic and real-time import-export trade data and strategies.

At EXiM trade data we help you resolve all your import-export business operations and queries and bring you the most accurate and real-time systematic international import-export trade data statistics that assist you to enhance your ongoing import-export trade and business.

WHY EXiM TRADE DATA?

EXiM trade data help provide you with the most authentic, in-depth, and up-to-date

import-export trade data strategies that help you reduce the risk and maximize the profit in the import-export business.

export trade data, you can find new suppliers and buyers for your products and analyze the current market flow and trends in real-time.

EXiM trade data also helps the businesses and companies to know about the top importer and exporter and the strategies they use for their successful business.

At EXiM trade data you can analyze the ongoing demand of the countries and their people to make accurate plans and strategies to meet their requirements.

Right Information

We provide detailed and in-depth information that’s been tested by the team of our experts to make sure we offer you reliable facts and figures for your business.

Effective Market Intelligence

Our marketing intelligence helps you save time and get reliable and accurate import-export trade data in no time.

Safety OF The Information

At EXiM, we keep all your business and payment-related details confidential and protected.

Know Your Market

The main challenge for any business to grow is to find potential buyers for their products & commodities.

EXiM trade data help provide you with well and in-depth researched data that help you develop and evaluate marketing strategies to attract and target potential buyers in the foreign market.

For more info visit site: https://www.eximtradedata.com

Getting To Know The Trade Strategies China Uses For Its Global Trade Business Across The World

 China Import And Export Data is an essential tool that contains crucial insights into the trade activities of this country. The customs import-export data Exim provides helps you acknowledge the modern trends and flow of the global trade markets. This allows you to form a more suitable trade strategy for your global import-export trade business.

The data Exim provides is based on factual sources of information including Import bills, Shipping bills, Invoices, and some other essential import-export trade documents needed for trade across foreign countries.

To make sure we offer you up-to-date, genuine, and most reliable customs reports, we source information from authorized sources of links which includes Chinese customs departments, Trade associations, Shipping & Logistics Companies, Port Authorities, Government Bodies, etc.

Year Wise Import-Export Trade Value and Shipment Record Data

● The total trade value of China imports in the year 2017 was recorded at $2,208.50 billion, an increase of 13.58% from 2016.

● The total trade value of China imports in the year 2018 was recorded at $2,548.88 billion, an increase of 15.41% from 2017.

● The total trade value of China imports in the year 2019 was recorded at $2,476.29 billion, a decline of 2.85% from 2018.

● The total trade value of China imports in the year 2020 was recorded at $2,357.11 billion, a decline of 4.81% from 2019.

Exports

● The total trade value of China exports in the year 2017 was recorded at $2,424.20 billion, an increase of 10.19% from 2016.

● The total trade value of China exports in the year 2018 was recorded at $2,655.59 billion, an increase of 9.55% from 2017.

● The total trade value of China exports in the year 2019 was recorded at $2,641.27 billion, a decline of 0.54% from 2018.

● The total trade value of China exports in the year 2020 was recorded at $2,723.25 billion, an increase of 3.1% from 2019.

The data we provide helps you compare prices, Taxes, and Quantity of duty of goods and services being exported and imported into the global trade market through Exim’s smartly developed tools and data.

What does China import the most?

According to China Imports And Export Data 2020 and market analysis reports, Oil Seeds $45 billion (2.2%), Organic Chemicals $45.6 billion (2.2%), Vehicles $74 billion (3.6%), Copper $48.5 billion (2.4%), Mineral Oils & Fuels $267.6 billion (13%), Electrical Machinery & Equipment $548.7 billion (26.7%), Machinery & Computers $192 billion (9.3%), Technical, Optical & Medical Apparatus $99.1 billion (4.8%), Skag, Ash & Ores $180 billion (8.8%), and Plastics & Articles of Plastics were the top imported products of China in 2020. These major import categories accounted for 76.4% of the overall shipment value of this country in 2020.

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.

Top Trading Partners of China

Based on market intelligence reports and research data, the United States $452.6 billion (17.5%), South Korea $112.5 billion (4.3%), Germany $86.8 billion (3.4%), Hong Kong $272.7 billion (10.5%), Vietnam $113.8 billion (4.4%), India $66.7 billion (2.6%), Netherlands $79 billion (3%), Taiwan $60.1 billion (2.3%), United Kingdom $72.6 billion (2.8%), Thailand $50.5 billion (2%), Singapore $57.5 billion (2.2%), Russia $50.6 billion (2%), Malaysia $56.4 billion (2.2%), and Australia $53.5 billion (2.1%) were the top export partners of this country in 2020 as per China Import Export Data.

For more info, you can connect to us directly or visit our official website for a quick and on-point overview of your current import-export trade statistics and strategies.

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. 

For more info on custom global import-export data, you can visit our official website as we are one of the leading global import-export marketing services & solutions provider companies across the globe.

We provide 24*7 customer support to our clients and make sure that we meet their business requirements in no time to increase and maximize the overall productivity of their business.