Big Bonanza from the Food and Beverage Industry
Turkish Food and Beverage Industry Associations Federation (TGDF) Digital Data Panel announced the data for 2022. Accordingly, in the first six months of 2022, the agriculture, food, and beverage sector exported 12.2 billion dollars.
All GTIP items between chapters 01 to 23 and selected products from chapters 29 and 35 are included in the calculation. In the first half of 2022, the sector’s foreign trade surplus decreased by 22.1 percent compared to the same period of the previous year.
Exports climbed by 19.5% in the first half of 2022 compared to the same time in the previous year. It reached $12.15 billion, according to foreign trade data released under the Special Trade System. In addition, imports rose by 31.3 percent to $10.41 billion, a record high.
The export data for the first half of 2022 is viewed favorably by the industry. In the upcoming years, it is expected that this expansion of the export industry would produce significant advantages. On the other hand, it was interesting to note that the rate of increase in imports was much higher. It is anticipated that there would be a shift in the import-export balance.
The export success of the food and beverage industry, increasing year by year, provided great prosperity this year as well. Turkey is gradually taking its rise in the food and beverage sector forward.
Foreign Trade Surplus Decreased Compared to Last Year
In the first six months of 2022, the foreign trade surplus decreased by 22.12 percent compared to the same period of the previous year. It amounted to 1.74 billion dollars.
Although the sector maintained its net exporter position throughout the year, it fell behind the foreign trade surplus of last year in the first half of the year. The biggest reason for this is that with the effect of the pandemic, the need for the main material needs more quantities based on production. In the first months of the year, the increase in foreign trade surplus was 50 percent compared to the previous year.
In March, this rate reached 101.5 percent. The high monthly import figures of the same ratio in April, May, and especially in June, the foreign trade deficit every month in May, brought the foreign trade surplus down.
The unit export value increased by 9 percent in the first six months of 2022 compared to the same period of the previous year. It amounted to 1,162 dollars/ton. Import unit value, on the other hand, increased by 12.1% compared to the previous year. It reached 689 dollars/ton.
Products That Gain Value in Foreign Trade
The food and beverage sector is among the sectors in which Turkey has made the most progress in terms of production. On the other hand, developments based on products increase the export rate.
In the first six months of 2022, the prominent products in exports were flour, refined sunflower oil, and pasta, respectively. These products constituted approximately 13 percent of total exports. In June 2022, the prominent products in exports were reported as refined sunflower oil, wheat flour, and cherries.
On the other hand, in the first six months of 2022, the most imported products were wheat, soybean, and crude sunflower oil, respectively.
Prominent Sectors in Exports
Additionally, a report detailing the sector-specific review of statistics on international trade for the first half of 2022 has been released. This survey places sugar and sugar-containing items in the first place with 1.196 million dollars. Vegetable oil is in second place with 1.043 million dollars. Fresh fruit is in third place with 981 million dollars. Nuts with 938 million dollars and fisheries-fisheries sectors with 734 million dollars were listed as the most exporting sectors. 40.3 percent of total exports were realized by these 5 sectors.
In addition to the export report, the import report also has remarkable results. In the first six months of 2022, animal feed, vegetable oil, flour, and cocoa-chocolate were listed as the most imported sectors.
Additionally, sugar products are included in both export and import sectorally. The most obvious reason for this situation is the lack of order in the balance between production and demand. Sugar and sugary products have a very important place in the consumption frequency of the consumer.
Prominent Countries in Foreign Trade
Foreign trade data for the first 6 months of 2022, based on countries, were announced as the ranking of the 5 countries to which Turkey exports the most. Iraq ranks first with 1,723 million dollars, while Germany ranks second with 817 million dollars. The USA is in third place with 725 million dollars and Russia is in fourth place with 692 million dollars. The last country on the list of the top 5 countries was Italy with 381 million dollars. Exports to these 5 countries constituted 35.7 percent of total exports.
The most exported products of Turkey to Iraq were frozen chicken meat, flour and tomato paste. Hazelnut kernels, packaged hazelnuts, and cherry products were exported to Germany. Gummy jelly candies, apple juice, and soybeans were among the most exported products to the USA.
