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.