Turkey's trade deficit declined to USD 4.53 billion in December 2020 from USD 4.67 billion in the same month of the previous year, as exports rose more than imports. Imports increased 11.6 percent due to purchases of intermediate goods (7.6 percent), capital goods (25.3 percent), and consumption goods (22.1 percent). Meanwhile, exports surged 16 percent as sales of manufactured products jumped by 15.6 percent. Also, exports of agriculture, forestry and fishing surged 15.8 percent and those of mining and quarrying soared 34.5 percent. Considering the full year of 2020, the trade gap widened sharply to USD 49.9 billion from USD 29.5 in 2019 amid subdued global demand. source: Turkish Statistical Institute
Balance of Trade in Turkey averaged -1755.61 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 February of 2021.
Balance of Trade in Turkey is expected to be -3800.00 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 100.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around 100.00 USD Million in 2022 and -2000.00 USD Million in 2023, according to our econometric models.