Turkey Balance of Trade

Last Release

Mar 31, 2025

Actual

-7,267

Units In

USD Million

-7,771.44

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
24.51 Dec 1971	-14,370 Jan 2023	-2,093.06 USD Million	1957-2025	Turkish Statistical Institute

The Turkish trade balance has been in deficit since 1947. In 2017 the trade gap widened 36.8 percent from the previous year to USD 76.7 billion, as imports jumped 17.7 percent, the sharpest increase since 2011 and exports rose at a slower 10.2 percent. Turkey major exports were road vehicles, textiles, iron and steel, clothing and food, while imports were machinery and transport equipment, manufactured goods, mineral fuels and lubricants and chemicals. The biggest trade deficits were recorded with China, Russia, Germany, South Korea, Switzerland, India, Iran and Japan; and the largest surpluses were recorded with Iraq, the UAE, the UK, Israel, Syria, Northern Cyprus and Azerbaijan.

Latest Updates

Turkey's trade deficit narrowed to USD 7.2 billion in March 2025 from USD 7.3 billion in the corresponding month of the previous year. This marked the smallest trade deficit since October 2024, as exports grew by 3.4% year-on-year to USD 23.42 billion, primarily driven by higher shipments of mining and quarrying (14.8%), agriculture, forestry and fishing (10.6%), and manufacturing (2.7%). Among major destinations, shipments to the USA went up by 6% amid the announcement of tariffs from the US on Turkish goods. Turkey's largest export destination was Germany (7.9%) and the UK (6.4%). Meanwhile, imports rose at a softer 2.2% from a year earlier to USD 30.61 billion, mainly due to increased arrivals of consumption goods (12.4%), capital goods (3.9%) and others (11.9%). The top import sources were China (13.1%), Russia (10.7%), Germany (8.1%), France (5%) and Italy (4.9%). Considering the first three months of the year, the trade deficit rose to USD 22.49 billion from USD 22.26 billion.