Turkish trade gap tumbled 89.8 percent to USD 0.7 billion in November 2018 from USD 6.4 billion in the corresponding month of the previous year. Exports rose 9.4 percent to USD 15.5 billion while imports slumped 21.3 percent to USD 16.2 billion on the back of a weak lira. Balance of Trade in Turkey averaged -1704.06 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.

Balance of Trade in Turkey is expected to be -6900.00 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 -900.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around -4000.00 USD Million in 2020, according to our econometric models.

Turkey Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-28 07:00 AM Balance of Trade $-2.42B $-5.98B $ -4.4B
2018-10-31 07:00 AM Balance of Trade $-1.87B $-2.45B $ -3.8B
2018-11-30 07:00 AM Balance of Trade $-0.46B $-1.91B $-1.4B
2018-12-31 07:00 AM Balance of Trade $-0.65B $-0.48B $-0.8B
2019-01-31 07:00 AM Balance of Trade $-0.65B
2019-02-28 07:00 AM Balance of Trade
2019-03-29 07:00 AM Balance of Trade



Turkish Trade Gap Narrows Sharply in November

Turkish trade gap tumbled 89.8 percent to USD 0.7 billion in November 2018 from USD 6.4 billion in the corresponding month of the previous year. Exports rose 9.4 percent to USD 15.5 billion while imports slumped 21.3 percent to USD 16.2 billion on the back of a weak lira.

Exports rose 9.4 percent from a year earlier to USD 15.5 billion as sales of manufactured products, which accounted for 93 percent of total shipments, increased 9.7 percent. Also, exports of agriculture, hunting and forestry went up 3.9 percent, and those of mining and quarrying advanced 7.2 percent. Among major trading partners, exports increased mainly to Germany (4.2 percent), the UK (8.7 percent), Italy (4.0 percent), Iraq (36.8 percent), the US (13.0 percent), Spain (23.9 percent), France (0.1 percent), the Netherlands (5.4 percent), Belgium (36.2 percent) and Romania (22.3 percent). 
 
Imports slumped 21.3 percent to USD 16.2 billion. Purchases of intermediate goods accounted for 76.1 percent of total imports in November and dropped 17.7 percent from a year earlier. Additionally, imports fell for both capital (-20.0 percent) and consumption goods (-43.1 percent). Among major trading partners, imports declined mainly from Russia (-7.9 percent), Germany (-21.0 percent), China (-29.8 percent), Italy (-25.1 percent), India (-16.1 percent), France (-36.2 percent), the UK (-30.9 percent), South Korea (-23.7 percent) and Japan (-4.3 percent). Meanwhile, purchases from the US increased 15.0 percent.
 
Considering January to November, the trade gap narrowed 22.6 percent to USD 52.3 billion as exports advanced 7.7 percent to USD 154.2 billion and imports dropped 2.0 percent to USD 206.5 billion.


Turkish Statistical Institute | Chusnul Ch Manan | chusnul@tradingeconomics.com
12/31/2018 10:58:20 AM



Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -651.36 -482.93 24.51 -10453.06 USD Million [+]
Current Account 986.00 2746.00 2746.00 -9407.00 USD Million [+]
Current Account to GDP -5.50 -3.80 2.00 -9.00 percent [+]
Imports 16180.25 16174.65 23245.30 15.00 USD Million [+]
Exports 15528.90 15691.72 15691.72 7.10 USD Million [+]
External Debt 448452.00 456961.00 466657.00 43911.00 USD Million [+]
Terms of Trade 99.77 99.46 147.63 93.96 Index Points [+]
Capital Flows -1980.00 -3125.00 9186.00 -6849.00 USD Million [+]
Foreign Direct Investment 10900.00 12300.00 22046.00 1800.00 USD Million [+]
Remittances 40.00 57.00 574.00 24.00 USD Million [+]
Tourism Revenues 3686.00 4281.00 4947.00 79.00 USD Million [+]
Tourist Arrivals 1966277.00 3755467.00 5671801.00 213998.00 [+]
Gold Reserves 253.10 246.30 253.10 116.10 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 57.00 57.00 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-651.36 -482.93 24.51 -10453.06 1957 - 2018 USD Million Monthly




Country Last Previous
Argentina 979.00 Nov/18
Australia 1925.00 Nov/18
Brazil 6639.00 Dec/18
Canada -2060.10 Nov/18
China 570.60 Dec/18
Euro Area 18967.90 Nov/18
France -5099.00 Nov/18
Germany 20500.00 Nov/18
India -13080.00 Dec/18
Indonesia -1102.00 Dec/18
Italy 3843.00 Nov/18
Japan -737.30 Nov/18
Mexico -2382.00 Nov/18
Netherlands 6983.00 Nov/18
Russia 18984.00 Nov/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 3494.40 Nov/18
South Korea 4558.00 Dec/18
Spain -3836500.00 Oct/18
Switzerland 3071.48 Nov/18
Turkey -651.36 Nov/18
United Kingdom -2904.00 Nov/18
United States -55488.00 Oct/18


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