Türkiye's terms of trade decline in September

According to the figures, the export unit value index increased by 7% year over year, while the import unit value index rose by 12.7%. The largest increase in export unit values was recorded in fuels at 59.9%, followed by raw materials at 12.6% and manufacturing at 3.8%. On the import side, the fuel unit value index increased by 52.4%. As import prices rose faster than export prices, Türkiye's terms of trade declined by 4.7 points year over year to 88.

In September, the export volume index increased by 7.8% year over year, while the import volume index fell by 6.3%. Export volumes rose by 17.6% in food, beverages, and tobacco, 11.6% in raw materials, and 4.8% in manufacturing. According to seasonally and calendar-adjusted data, the export volume index increased by 0.1% month over month, while the import volume index rose by 1.6%. The figures indicated that despite higher export volumes, foreign trade price conditions shifted against Türkiye.