Turkey's trade deficit narrowed to USD 2.85 billion in June of 2020 from USD 3.43 billion in the corresponding month of the previous year. Exports climbed 15.7 percent year-on-year to USD 13.46 billion, due to manufacturing products (+16.3 percent) and agriculture, forestry and fishing (+28.1 percent). On the other hand, sales of mining & quarrying fell 24.9 percent. Meantime, imports increased at a softer 8.3 percent to USD 16.31 billion, due to intermediate goods (4.2 percent); capital goods (27.5 percent) and consumption goods (15.4 percent). Considering the first half of the year, the country’s trade gap widened to USD 23.87 billion from USD 13.79 billion a year earlier.
Balance of Trade in Turkey averaged -1735.22 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 August of 2020. source: Turkish Statistical Institute
Balance of Trade in Turkey is expected to be -700.00 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 -3620.00 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.