Turkey’s trade deficit widened to USD 10.69 billion in July of 2022 from USD 4.33 billion in the corresponding period of the previous year, marking the largest trade deficit on record. Imports surged by 41.4 percent to USD 29.24 billion, pressured by the continuously weak lira and high energy prices. Sharp increases were recorded for intermediate goods (46.3 percent), consumption goods (28.2 percent), and capital goods (24 percent). In the meantime, exports rose by a softer 13.4 percent to USD 18.55 billion, supported by intermediate goods (20.7 percent) and capital goods (8 percent). Considering the first seven months of the year, Turkey recorded a trade gap of USD 62.18 billion, compared to the USD 25.51 billion deficit from the corresponding period of the previous year. source: Turkish Statistical Institute

Balance of Trade in Turkey averaged -1840.69 USD Million from 1957 until 2022, reaching an all time high of 187.98 USD Million in October of 2018 and a record low of -10689.86 USD Million in July of 2022. 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 September of 2022.

Balance of Trade in Turkey is expected to be -4860.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Balance of Trade is projected to trend around -3500.00 USD Million in 2023, according to our econometric models.

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Turkey Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-07-29 07:00 AM Jun $-8.17B $-10.61B $ -4.2B
2022-08-29 07:00 AM Jul $-10.69B $-8.17B $-9.3B
2022-09-30 07:00 AM Aug $-10.69B $-9.8B


Related Last Previous Unit Reference
Balance of Trade -10689.86 -8203.21 USD Million Jul 2022
Imports 29240.50 31596.31 USD Million Jul 2022
Exports 18550.64 23393.10 USD Million Jul 2022
Tourism Revenues 8720.00 5450.00 USD Million Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-10689.86 -8203.21 187.98 -10689.86 1957 - 2022 USD Million Monthly

News Stream
Turkey Trade Deficit at Record High
Turkey’s trade deficit widened to USD 10.69 billion in July of 2022 from USD 4.33 billion in the corresponding period of the previous year, marking the largest trade deficit on record. Imports surged by 41.4 percent to USD 29.24 billion, pressured by the continuously weak lira and high energy prices. Sharp increases were recorded for intermediate goods (46.3 percent), consumption goods (28.2 percent), and capital goods (24 percent). In the meantime, exports rose by a softer 13.4 percent to USD 18.55 billion, supported by intermediate goods (20.7 percent) and capital goods (8 percent). Considering the first seven months of the year, Turkey recorded a trade gap of USD 62.18 billion, compared to the USD 25.51 billion deficit from the corresponding period of the previous year.
2022-08-29
Turkish Trade Gap Widens in June
Turkey’s trade deficit widened to USD 8.17 billion in June of 2022 from USD 2.87 billion in the corresponding period of the previous year. Imports surged by 39.7 percent to USD 31.6 billion amid a continuously weak national currency, driven by sharp increases in intermediate goods (51.4 percent) and consumption goods (19.6 percent). In the meantime, exports rose by a softer 18.7 percent to USD 23.43 billion, supported by manufacturing (18.8 percent) and mining and quarrying (24.2 percent). Considering the first half of the year, Turkey recorded a trade deficit of USD 51.4 billion, widening from USD 21.18 billion in the corresponding period of the period year.
2022-07-29
Turkish Trade Gap Widens Sharply in May
Turkey's trade deficit widened to USD 10.61 billion in May of 2022 from USD 4.16 billion in the corresponding month of the previous year. Exports rose 15.3 percent to USD 18.98 billion, while imports jumped at a faster 43.5 percent to USD 29.59 billion. Considering the January-May period, the country's trade gap widened sharply to USD 43.2 billion from USD 18.3 billion a year earlier
2022-06-30