Turkey Balance of Trade  1957-2018 | Data | Chart | Calendar | Forecast

Turkish trade gap narrowed by 59 percent year-on-year to USD 2.42 billion in August of 2018 from USD 5.91 billion in the corresponding month of the previous year. It is the lowest trade deficit since March of 2009 as imports dropped 22.7 percent to the lowest value in two years amid a falling lira while exports declined at a softer 6.5 percent. Balance of Trade in Turkey averaged -1706.75 USD Million from 1957 until 2018, reaching an all time high of 24.51 USD Million in December of 1971 and a record low of -10453.06 USD Million in September of 2011.

Turkey Balance of Trade
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Turkish Trade Deficit Narrows Sharply in August


Turkish trade gap fell by 59 percent year-on-year to USD 2.42 billion in August of 2018 from USD 5.91 billion in the corresponding month of the previous year. It is the lowest trade deficit since March of 2009 as imports dropped 22.7 percent to the lowest value in two years amid a falling lira while exports declined at a softer 6.5 percent.

Exports dropped 6.5 percent to USD 12.4 billion. Sales of manufactured products, which accounted for 94.9 percent of total shipments went down 6 percent. Also, exports fell for agriculture, hunting and forestry (-6.4 percent); mining and quarrying (-31 percent) and fisheries (-8.3 percent). On the other hand, sales of other products increased by 31.2 percent from August of 2017. Exports decreased mainly to Germany (-16 percent); Iraq (-33.2 percent) and the US (-10.1 percent); while those to the UK increased 6.5 percent.

Imports slumped 22.7 percent from a year earlier to USD 14.8 billion. Purchases of intermediate goods accounted for 78.4 percent in August and decreased 166.5 percent. Additionally, imports declined for capital goods (-36.3 percent); consumption (-42.4 percent) and others (-54.5 percent). Among major trading partners, purchases went down mainly from Russia (-2.5 percent); China (-31.6 percent); Germany (-31.3 percent) and the US (-3.7 percent).

Considering the January to August period, exports advanced 5.2 percent to USD 108.6 billion and imports rose 5.9 percent to USD 157.8 billion, thus widening the trade deficit by 7.6 percent to USD 49.2 billion.

Compared with the previous month, seasonally and calendar adjusted exports increased by 2.2 percent while imports decreased by 8 percent.


Turkish Statistical Institute | Agna Gabriel | agna.gabriel@tradingeconomics.com
9/28/2018 9:52:08 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-07-31 07:00 AM Balance of Trade $-5.5B $-7.8B $ -5.3B
2018-08-29 07:00 AM Balance of Trade $-5.98B $-5.5B $-6.6B
2018-09-28 07:00 AM Balance of Trade $-2.42B $-5.98B $ -4.4B
2018-10-31 07:00 AM Balance of Trade $-2.42B $ -3.8B
2018-11-30 07:00 AM Balance of Trade
2018-12-31 07:00 AM Balance of Trade


Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -2421.79 -5994.49 24.51 -10453.06 USD Million [+]
Exports 12383.30 14065.42 15555.98 7.10 USD Million [+]
Imports 14805.08 20059.91 23245.30 15.00 USD Million [+]
Current Account 2592.00 -1778.00 2592.00 -9407.00 USD Million [+]
Current Account to GDP -5.50 -3.80 2.00 -9.00 percent [+]
External Debt 456961.00 466657.00 466657.00 43911.00 USD Million [+]
Terms of Trade 101.77 103.29 147.63 93.96 Index Points [+]
Capital Flows -6257.00 -1121.00 9186.00 -6257.00 USD Million [+]
Foreign Direct Investment 10900.00 12300.00 22046.00 1800.00 USD Million [+]
Remittances 40.00 25.00 574.00 22.00 USD Million [+]
Tourism Revenues 2813.00 2422.00 4947.00 79.00 USD Million [+]
Tourist Arrivals 5383332.00 5671801.00 5671801.00 213998.00 [+]
Gold Reserves 246.30 236.00 246.30 116.10 Tonnes [+]
Terrorism Index 7.52 6.74 7.52 4.62 [+]
Weapons Sales 244.00 311.00 311.00 3.00 USD Million [+]
Crude Oil Production 55.00 55.00 72.00 38.00 BBL/D/1K [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Turkey Balance of Trade

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. This page provides the latest reported value for - Turkey Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Balance of Trade - actual data, historical chart and calendar of releases - was last updated on October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-2421.79 -5994.49 24.51 -10453.06 1957 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Argentina -1127.00 Aug/18
Australia 1604.00 Aug/18
Brazil 4971.00 Sep/18
Canada 526.10 Aug/18
China 316.93 Sep/18
Euro Area 11671.20 Aug/18
France -5632.00 Aug/18
Germany 17174.00 Aug/18
India -13980.00 Sep/18
Indonesia 227.10 Sep/18
Italy 2564.00 Aug/18
Japan -444.59 Aug/18
Mexico -2590.00 Aug/18
Netherlands 3463.00 Aug/18
Russia 15797.00 Aug/18
Saudi Arabia 162782.00 Jun/18
Singapore 6755.10 Aug/18
South Africa 8794.70 Aug/18
South Korea 9746.00 Sep/18
Spain -3247700.00 Jul/18
Switzerland 1407.94 Aug/18
Turkey -2421.79 Aug/18
United Kingdom -1274.00 Aug/18
United States -53237.00 Aug/18


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