Turkey Trade Deficit Biggest in 8 Months

Turkey’s trade deficit widened to USD 8.35 billion in January 2026 from USD 7.51 billion in the same month last year, according to preliminary data from the Trade Ministry. Imports were slightly higher, up 0.03% year-on-year to USD 28.68 billion, as increased purchases of investment goods (+9.6%) and other goods (+195.4%) were offset by lower arrivals of raw materials (-1.0%) and consumer goods (-5.6%). The largest import sources were China (USD 4.28 billion), Russia (USD 2.94 billion), and the US (USD 2.87 billion), with the top 10 import partners covering 59.3% of total imports. Meanwhile, exports fell 3.9% to USD 20.33 billion, weighed by lower sales of raw materials (-4.4%) and consumer goods (-10.6%), while exports of capital goods (+5.8%) and other goods (+287.0%) rose. Top export destinations were Germany (USD 1.78 billion), the US (USD 1.22 billion), and the UK (USD 1.21 billion), with the top 10 export markets accounting for 47.8% of overall shipments.

Turkey’s trade deficit widened to USD 9.3 billion in December 2025 from USD 8.8 billion in the same month of 2024. The data was revised slightly lower from an initial estimate of USD 9.4 billion. This was the largest trade gap since April, even as exports grew more than imports. Exports increased 12.7% year-on-year to USD 26.4 billion, driven by higher sales in manufacturing (11.9%), agriculture, forestry and fishing (24.9%), and mining and quarrying (19%). Germany remained the top export market (6.7%), followed by the UK (6%), the US (5.9%), Iraq (5.1%), and France (4.8%). Imports rose 10.7% to USD 35.7 billion amid increased purchases of intermediate goods (5.6%), capital goods (38.7%), and consumption goods (6.7%). The main sources of imports were China (13%), Russia (10.5%), Germany (8.5%), the US (5.7%), and Italy (4.5%). For the full year of 2025, the trade gap expanded to USD 92.0 billion from USD 82.2 billion in 2024, with imports (6.2%) rising more than exports (4.4%).

Turkey’s trade deficit widened to USD 9.4 billion in December 2025 from USD 8.8 billion in the same month last year, according to preliminary data from the Trade Ministry. This marked the largest trade shortfall since April. Exports rose 12.8% to USD 26.4 billion, driven by higher sales of investment goods (+33.9%), raw materials (+6.4%), consumer goods (+1.3%), and other goods (+217.1%). Top export destinations included Germany, accounting for 6.7% of total exports, followed by the US (5.9%), the UK (5.7%), and Iraq (5.1%). Meanwhile, imports increased 11.2% to USD 35.8 billion, reflecting higher purchases of investment goods (+38.6%), raw materials (+6.3%), consumer goods (+6.8%), and other goods (+110.3%). China remained the largest import source with a 13% share, followed by Russia (10.4%), Germany (8.4%), and the US (5.7%). For the full year of 2025, Turkey recorded a trade deficit of USD 92.0 billion, compared with USD 82.2 billion in the previous year.