Turkey's trade deficit widened to USD 4.56 billion in April 2020 from USD 2.73 billion in the corresponding month of the previous year. Exports plunged 41.4 percent year-on-year to an over nine-year low of USD 8.99 billion, mainly due to lower sales of manufacturing products (-43 percent) and mining & quarrying (-8.3 percent). Imports dropped 25 percent to an over four-year low of USD 13.55 billion, due to lower purchases of intermediate goods (-30.3 percent), consumption (-16.5 percent) and others (-43.1 percent). Considering the first four months of the year, the country’s trade gap increased to USD 14.54 billion from USD 8.67 billion a year earlier.
Balance of Trade in Turkey averaged -1731.54 USD Million from 1957 until 2020, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Turkish Statistical Institute
Balance of Trade in Turkey is expected to be -1700.00 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 -1400.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around 100.00 USD Million in 2021 and -2000.00 USD Million in 2022, according to our econometric models.