Turkey's trade deficit shrank by 55.6 percent to USD 2.98 billion in April 2019 from USD 6.71 billion in the corresponding month of the previous year. Exports rose 4.6 percent while imports tumbled 15.1 percent. Balance of Trade in Turkey averaged -1709.49 USD Million from 1957 until 2019, 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.

Balance of Trade in Turkey is expected to be -1000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Turkey to stand at 800.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around 100.00 USD Million in 2020, according to our econometric models.

Turkey Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-28 07:00 AM Balance of Trade $-2.5B $-2.72B $-1.2B
2019-03-29 07:00 AM Balance of Trade $-2.13B $-2.5B $-1.7B
2019-04-30 07:00 AM Balance of Trade $-2.14B $-2.15B $-0.6B
2019-05-31 07:00 AM Balance of Trade $-2.98B $-2.14B $-2B
2019-06-28 07:00 AM Balance of Trade $-2.98B $-3.2B
2019-07-31 07:00 AM Balance of Trade $ -1B
2019-08-29 07:00 AM Balance of Trade $-1.2B



Turkey Trade Gap Narrows in April

Turkey's trade deficit shrank by 55.6 percent to USD 2.98 billion in April 2019 from USD 6.71 billion in the corresponding month of the previous year. Exports rose 4.6 percent while imports tumbled 15.1 percent.

Exports grew 4.6 percent from a year earlier to USD 14.5 billion in April 2019, as shipments of manufactured products, which accounted for 95 percent of total sales, rose 5.1 percent. Also, exports of mining and quarrying advanced 2.7 percent, while those of agriculture, hunting and forestry fell 10.2 percent. Among major trading partners, exports increased mainly to Iraq (18.6 percent), the US (15.6 percent), Spain (0.4 percent), Israel (9.9 percent), the UAE (40.2 percent) and Saudi Arabia (40.8 percent), but decreased to Germany (-8.8 percent), the UK (-3.6 percent) and Italy (-0.8 percent).

Imports plunged 15.1 percent to USD 17.5 billion in April 2019. Purchases of intermediate goods, which accounted for 80.2 percent of total imports, declined 9.8 percent; and those of capital and consumption goods slumped 25.9 percent and 37.8 percent, respectively. Among major trading partners, imports declined primarily from Russia (-1.6 percent), China (-18.1 percent), Germany (-26.5 percent), the US (-14.7 percent), Italy (-23.6 percent), France (-20.3 percent), India (-18.8 percent), Iran (-37.8 percent), the UK (-14.6 percent), South Korea (-27.8 percent). In contrast, they increased from the UAE (12.8 percent).


Turkish Statistical Institute | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/31/2019 8:29:04 AM


News

Turkish Trade Deficit Narrows Sharply in March
Turkey's trade deficit narrowed 63.7 percent to USD 2.1 billion in March 2019 from USD 5.9 billion in the same month of the previous year.
Published on 2019-04-30

Turkish Trade Deficit Smallest in 3 Months
Turkish trade deficit slumped 63.1 percent to USD 2.1 billion in February 2019 from USD 5.8 billion in the corresponding month of the previous year. This was the smallest trade gap since November last year, as exports rose while imports tumbled.
Published on 2019-03-29

Turkish Trade Deficit Narrows Sharply in January
Turkish trade deficit slumped 72.5 percent to USD 2.5 billion in January 2019 from USD 9.1 billion in the corresponding month of the previous year.
Published on 2019-02-28

Turkish Trade Gap Narrows Sharply in December
Turkish trade deficit slumped 71.1 percent to USD 2.7 billion in December 2018 from USD 9.2 billion in the corresponding month of the previous year.
Published on 2019-01-31



Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -2982.01 -2153.16 24.51 -10453.06 USD Million [+]
Current Account -1334.00 -613.00 2630.00 -9407.00 USD Million [+]
Current Account to GDP -3.50 -5.60 1.90 -8.90 percent [+]
Imports 17461.95 17621.60 23245.30 15.00 USD Million [+]
Exports 14479.94 15468.44 15678.00 7.10 USD Million [+]
External Debt 444878.00 448452.00 466657.00 43911.00 USD Million [+]
Terms of Trade 100.43 100.96 147.63 93.96 Index Points [+]
Capital Flows -2418.00 4460.00 9186.00 -6814.00 USD Million [+]
Foreign Direct Investment 13200.00 10900.00 22046.00 1800.00 USD Million [+]
Remittances 15.00 15.00 574.00 15.00 USD Million [+]
Tourism Revenues 1685.00 1359.00 4947.00 79.00 USD Million [+]
Tourist Arrivals 3293176.00 2232358.00 5671801.00 213998.00 [+]
Gold Reserves 261.10 253.50 261.10 116.10 Tonnes [+]
Terrorism Index 7.04 7.52 7.52 4.62 [+]
Weapons Sales 364.00 245.00 364.00 3.00 USD Million [+]
Crude Oil Production 55.00 54.00 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-2982.01 -2153.16 24.51 -10453.06 1957 - 2019 USD Million Monthly




Country Last Previous
Argentina 1131.00 Apr/19
Australia 4871.00 Apr/19
Brazil 6422.00 May/19
Canada -966.20 Apr/19
China 416.58 May/19
Euro Area 15671.60 Apr/19
France -4981.00 Apr/19
Germany 17900.00 Apr/19
India -15360.00 May/19
Indonesia -2501.90 Apr/19
Italy 2884.57 Apr/19
Japan -967.11 May/19
Mexico 1370.00 Apr/19
Netherlands 4154.00 Apr/19
Russia 13705.00 Apr/19
Saudi Arabia 180059.00 Dec/18
Singapore 3962.64 May/19
South Africa -3427.45 Apr/19
South Korea 2271.00 May/19
Spain -2352600.00 Mar/19
Switzerland 1906.00 Apr/19
Turkey -2982.01 Apr/19
United Kingdom -2740.00 Apr/19
United States -50791.00 Apr/19


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