Minister Muş Announced Foreign Trade Figures for March

Minister Muş announced the foreign trade figures for March at the press conference he held with the President of the Turkish Exporters Assembly (TİM) İsmail Gülle at the Conference Hall of the Ministry of Commerce.

Emphasizing that the momentum achieved in exports in 2021 continues this year, Muş said, "Accordingly, our exports in March, which we left behind, increased by 19.8 percent compared to March of last year and reached 22.7 billion dollars. This figure is the highest March export figure of all time. "We also announced the highest monthly figures in January and February. This year, we made 3 out of 3." he said.

Noting that March imports amounted to 30.9 billion dollars, Muş said that energy imports had an important place in the said import figure.

- "Excluding energy, imports amounted to 22.5 billion dollars in March"

Pointing out that with these developments, the foreign trade volume increased to 53.6 billion dollars in March with an increase of 26 percent compared to the previous year, Muş made the following assessment:

"At this point, I think it would be beneficial to open a separate chapter on energy imports. The increase in commodity prices, especially oil and natural gas, was effective in our January-March period import increase. As a matter of fact, global commodity prices were the same in the first two months of this year as the previous year. On the other hand, brent oil prices, which were 76 dollars in January, increased by 70.2 percent and reached 130 dollars in March. Similarly, European natural gas prices increased to the same period of the previous year in the first two months of this year. Compared to the same month of the previous year, our energy imports increased by approximately 156 percent to 8.4 billion dollars in March compared to the same month of the previous year, and reached the same level of the previous year in the January-March period. It increased by 188 percent compared to the previous period and reached 25 billion dollars.Excluding energy, our imports in March were 22.5 billion dollars.”

"The ratio of exports to imports excluding energy rises to 95 percent"

Minister Muş pointed out that while the ratio of exports to imports was 73.4 percent in March, this ratio increased to 95 percent with an increase of 4.5 points compared to the same period of the previous year, when we look at this ratio excluding energy, "These data clearly show that January-March 2022 16.3 billion dollars of the 25.7 billion dollars increase in imports in the same period of the previous year resulted from the increase in energy imports, especially the increase in natural gas and crude oil imports. We can say that it puts forward the performance.” used the expressions.

Noting that he fully believes that the strong performance will continue and that they will reach new records in exports in the continuation of this year, Muş said, "With our exports of 235.6 billion dollars in the last 12 months, we are taking firm steps towards the 250 billion dollars export target that our President pointed out for the end of 2022." said.

Minister of Commerce Mehmet Muş stated that they will impose the heaviest sanctions on companies that do not reflect the VAT reduction on the prices and make victims of the citizens with unfair price increases. will be paid." said.

Minister Muş announced the foreign trade figures for March at the press conference he held with the President of the Turkish Exporters Assembly (TİM) İsmail Gülle at the Conference Hall of the Ministry of Commerce.

Stating that the multidimensional effects of the war situation between Russia and Ukraine on the global economy have begun to be felt seriously, Muş said that the supply chains that are currently disrupted due to the epidemic have been hit more by the war between the two countries, which are the main producers of many critical raw materials and commodities globally. He said it caused additional price increases.

Noting that an analysis published by the OECD predicts that the war may increase global inflation by 2.5 points and that it may have a negative impact on global economic growth by more than 1 percent, Muş noted that the Euro Area was also severely affected by the current crisis.

Emphasizing that Turkey did not remain indifferent to this important event in its region and that it has become the center of diplomacy carried out to ensure a ceasefire immediately, Muş stated that the country strongly continues its role as a reliable mediator who can negotiate with both sides.

Pointing to the intensification of high-level contacts with the two countries under the leadership of President Recep Tayyip Erdoğan, Muş said:

"We, as the Ministry of Commerce, want that the war in question does not adversely affect the commercial and economic activities that we have been carrying out with both countries for years without any problems.We are making great efforts in China. We continue our work in the dimensions of export, import, logistics, customs and foreign relations in coordination with all relevant public institutions and sector stakeholders through the coordination desks we have established within our Ministry. In this regard, access is provided through the personal communication line established with our land and sea transport carriers who are stuck in conflict zones, and all kinds of support, including humanitarian aid, are provided to them.