Turkey's trade deficit widened to USD 4.56 billion in April 2020 from USD 2.73 billion in the corresponding month of the previous year. Exports plunged 41.4 percent year-on-year to an over nine-year low of USD 8.99 billion, mainly due to lower sales of manufacturing products (-43 percent) and mining & quarrying (-8.3 percent). Imports dropped 25 percent to an over four-year low of USD 13.55 billion, due to lower purchases of intermediate goods (-30.3 percent), consumption (-16.5 percent) and others (-43.1 percent). Considering the first four months of the year, the country’s trade gap increased to USD 14.54 billion from USD 8.67 billion a year earlier.

Balance of Trade in Turkey averaged -1731.54 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 June of 2020. source: Turkish Statistical Institute

Balance of Trade in Turkey is expected to be -1700.00 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 -1400.00 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.

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Turkey Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-4563.80 -5438.65 24.51 -10453.06 1957 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-28 07:00 AM Jan $-4.45B $-4.65B $-1.2B
2020-03-31 07:00 AM Feb $-2.98B $-4.5B $-3.6B
2020-04-30 07:00 AM Mar $-5.39B $-3.0B $ -2.2B
2020-05-29 07:00 AM Apr $-4.56B $-3.4B $-1.0B
2020-06-30 07:00 AM May $-4.56B $-1.8B
2020-07-29 07:00 AM Jun $ -3.3B
2020-08-31 07:00 AM Jul $-2.4B
2020-09-30 07:00 AM Aug $-2.2B


News Stream
Turkish Trade Deficit Widens Sharply in April
Turkey's trade deficit widened to USD 4.56 billion in April 2020 from USD 2.73 billion in the corresponding month of the previous year. Exports plunged 41.4 percent year-on-year to an over nine-year low of USD 8.99 billion, mainly due to lower sales of manufacturing products (-43 percent) and mining & quarrying (-8.3 percent). Imports dropped 25 percent to an over four-year low of USD 13.55 billion, due to lower purchases of intermediate goods (-30.3 percent), consumption (-16.5 percent) and others (-43.1 percent). Considering the first four months of the year, the country’s trade gap increased to USD 14.54 billion from USD 8.67 billion a year earlier.
2020-05-29
Turkish Trade Gap Widens Sharply in March
Turkey's trade deficit widened sharply to USD 5.39 billion in March of 2020 from USD 1.91 billion in the same month of last year. Exports slumped 17.8 percent year-on-year to USD 13.42 billion while imports rose 3.1 percent to USD 18.81 billion. Considering the first quarter of 2020, the country’s trade gap advanced to USD 12.91 billion from USD 5.94 billion in the same period a year earlier, with exports decreasing 4 percent and imports climbing 10.3 percent.
2020-04-30
Turkish Trade Gap Widens 72% in February
Turkey's trade deficit widened to USD 2.98 billion in February 2020 from USD 1.73 billion in the same month last year, as imports climbed 9.8 percent, boosted by a 10.8 percent jump in purchases of intermediate goods. In addition, imports of consumption goods surged 30.1 percent. Among key trade partners, imports rose from Russia (7.5 percent), China (21.5 percent), Germany (12.2 percent), the US (29.4 percent), Iraq (1260.8 percent), Italy (16.6 percent) and France (27.7 percent). Meanwhile, exports increased at a softer 2.3 percent, with sales of manufactured products rising 2.8 percent. Exports were up to Germany (1.1 percent), Iraq (20.7 percent), the US (9.4 percent) and France (6.2 percent), but declined to the UK (-3.6 percent), Italy (-10.3 percent) and Spain (-16.8 percent).
2020-03-31
Turkish Trade Gap Widens in January as Imports Jump
Turkey's trade deficit widened sharply to USD 4.45 billion in January 2020 from USD 2.29 billion in the corresponding month of the previous year, as imports jumped 18.8 percent on the back of purchases of intermediate (15.5 percent), capital (45.5 percent) and consumption goods (17.0 percent). Among major trade partners, imports advanced from Russia (18.4 percent), China (25.5 percent), Germany (7.2 percent), the US (61.5 percent), Iraq (1188.4 percent), Italy (5.2 percent) and the UK (55.5 percent). Exports increased at a softer 6.4 percent, as sales of manufactured products, which accounted for 94.1 percent of total exports, went up 6.6 percent. Exports grew to Germany (1.8 percent), Italy (9.2 percent), Iraq (13.2 percent), the US (10.6 percent) and France (13.8 percent). By contrast, shipments to the UK dropped 9.2 percent.
2020-02-28

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.