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.

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Turkey Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-4530.39 -5053.91 24.51 -10453.06 1957 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-30 07:00 AM Sep $-4.83B $-6.29B $-4.3B
2020-11-30 07:00 AM Oct $-2.37B $-4.85B $-1.6B
2020-12-31 07:00 AM Nov $-5.03B $-2.37B $-1.8B
2021-01-29 07:00 AM Dec $-4.53B $-5.05B $-3.8B
2021-02-26 07:00 AM Jan $-4.53B $-4.7B
2021-03-31 07:00 AM Feb
2021-04-30 07:00 AM Mar
2021-05-28 07:00 AM Apr


News Stream
Turkish Trade Deficit Narrows in December
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.
2021-01-29
Turkish Trade Gap Widens Sharply in November
Turkey's trade deficit widened to USD 5.03 billion in November 2020, from USD 1.99 billion in the same month of the previous year, as imports jumped 15.9 percent due to purchases of intermediate goods (9.5 percent), capital goods (32.6 percent), and consumption goods (41.4 percent). On the other hand, exports fell 0.9 percent amid subdued global demand, as sales of manufactured products were down 1.4 percent. Meanwhile, exports of agriculture, forestry and fishing rose 6.4 percent and those of mining and quarrying advanced 8.5 percent.
2020-12-31
Turkey Trade Gap Rises but Exports Hit Record High
The trade gap in Turkey widened to USD 2.373 billion in October of 2020 from USD 1.765 billion a year earlier as exports grew less than imports. Exports increased 5.6 percent to a record high of EUR 17.329 billion, due to sales of agriculture, forestry and fishing (3.7 percent) and manufacturing (5.9 percent). Main export partners were Germany, the UK, Iraq and the US. Imports surged 8.4 percent to USD 19.7 billion, boosted by purchases of capital (57.6 percent) and consumer goods (25.3 percent). Main imports came from Germany, China, Russia, the US and France. Considering the first ten months of 2020, the trade gap rose sharply to USD 40.27 billion from USD 22.86 billion as exports plunged 9.1 percent while imports rose 2.2 percent.
2020-11-30
Turkish Trade Deficit Widens in September
Turkey's trade deficit widened to USD 4.83 billion in September of 2020 from USD 1.67 billion in the corresponding month of the previous year. Exports went up 4.8 percent to USD 16.01 billion, with increases seen in mining & quarrying (14.6 percent), manufacturing (4.4 percent) and agriculture, forestry and fishing (12 percent). Imports jumped 23.0 percent to USD 20.84 billion, due to intermediate (19.4 percent), capital (46.7 percent) and consumer goods (23 percent). Considering the first nine months of the year, the trade deficit widened to USD 37.87 billion from USD 21.09 billion as exports plunged 10.9 percent while imports rose 1.5 percent.
2020-10-30

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.