International Merchandise Trade Statistics: Trade Balance: Commodities for Turkiye
XTNTVA01TRA667S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-83,141,330,000.00
Year-over-Year Change
0.15%
Date Range
1/1/1957 - 1/1/2024
Summary
The International Merchandise Trade Statistics: Trade Balance: Commodities for Turkiye measures the monthly difference between the value of Turkiye's imported and exported merchandise goods.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This trend represents Turkiye's overall trade balance, which is a key indicator of the country's economic performance and international competitiveness. Analyzing trade balance data helps policymakers and analysts assess Turkiye's trade flows and make informed decisions about economic and trade policies.
Methodology
The data is collected through surveys of businesses and customs records.
Historical Context
Trade balance figures are closely watched by financial markets and used to inform economic policy.
Key Facts
- Turkiye recorded a trade deficit of $9.5 billion in January 2023.
- Exports accounted for 55.9% of Turkiye's GDP in 2022.
- Turkiye's main trading partners are Germany, Italy, and the United Kingdom.
FAQs
Q: What does this economic trend measure?
A: The International Merchandise Trade Statistics: Trade Balance: Commodities for Turkiye measures the monthly difference between the value of Turkiye's imported and exported merchandise goods.
Q: Why is this trend relevant for users or analysts?
A: Trade balance figures are a key indicator of Turkiye's economic performance and international competitiveness, which are closely watched by financial markets and used to inform economic and trade policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and customs records.
Q: How is this trend used in economic policy?
A: Trade balance data is used by policymakers and analysts to assess Turkiye's trade flows and make informed decisions about economic and trade policies.
Q: Are there update delays or limitations?
A: The trade balance data is typically published on a monthly basis, with some potential for delays in data reporting or revisions.
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Citation
U.S. Federal Reserve, International Merchandise Trade Statistics: Trade Balance: Commodities for Turkiye (XTNTVA01TRA667S), retrieved from FRED.