Turkey Trade Deficit Widens in February

2026-03-03 09:22 By Kyrie Dichosa 1 min. read

Turkey’s trade deficit widened to USD 9.2 billion in February 2026 from USD 7.80 billion in the same month last year, according to data from the Trade Ministry.

Imports climbed 6.1% year-on-year to USD 30.3 billion, driven by higher purchases of investment goods (+15.7%), raw materials (+5.6%), and other goods (+168.5%).

The largest import sources were China (13.6% of total imports), Germany (7.3%), and Switzerland (5.6%), which recorded annual growth rates of 16.6%, 3.5%, and 36.5%, respectively.

Meanwhile, exports rose at a softer 1.6% to USD 21.1 billion, as gains in investment goods (+26.9%), raw materials (+1%), and other goods (+17.8%) were partly offset by a decline in consumer goods exports (-6.7%).

Leading destinations were Germany (8.8% of total shipments), the US (5.9%), and the UK (5.6%), with exports to Germany and the US up 10% and 4.4%, while the UK fell 5.8%.

In the first two months of 2026, the trade deficit rose to USD 17.6 billion from USD 15.3 billion a year ago.



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Turkey Trade Deficit Widens in February
Turkey’s trade deficit widened to USD 9.2 billion in February 2026 from USD 7.80 billion in the same month last year, according to data from the Trade Ministry. Imports climbed 6.1% year-on-year to USD 30.3 billion, driven by higher purchases of investment goods (+15.7%), raw materials (+5.6%), and other goods (+168.5%). The largest import sources were China (13.6% of total imports), Germany (7.3%), and Switzerland (5.6%), which recorded annual growth rates of 16.6%, 3.5%, and 36.5%, respectively. Meanwhile, exports rose at a softer 1.6% to USD 21.1 billion, as gains in investment goods (+26.9%), raw materials (+1%), and other goods (+17.8%) were partly offset by a decline in consumer goods exports (-6.7%). Leading destinations were Germany (8.8% of total shipments), the US (5.9%), and the UK (5.6%), with exports to Germany and the US up 10% and 4.4%, while the UK fell 5.8%. In the first two months of 2026, the trade deficit rose to USD 17.6 billion from USD 15.3 billion a year ago.
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Turkey Trade Deficit Widens in January
Turkey’s trade deficit widened to USD 8.4 billion in January 2026 from USD 7.5 billion in the same month last year, confirming preliminary estimates from the Trade Ministry. Exports dropped 4.1% year-on-year to USD 20.3 billion, weighed down by lower manufacturing shipments (-4.7%), partly offset by higher exports of agriculture, forestry and fishing (+2.4%), mining and quarrying (+13.1%), and other sectors (+8.7%). Germany remained the top export market (8.8%), followed by the UK (6.3%), the US (6.0%), Italy (5.2%), and Iraq (4.4%). Meanwhile, imports edged up 0.1% to USD 28.7 billion, as increased purchases of capital goods (+9.7%) and other goods (+195.2%) offset declines in intermediate goods (-1.0%) and consumption goods (-5.7%). The main sources of imports were China (14.9%), followed by Russia (10.7%), Germany (6.5%), the US (6.3%), and Switzerland (4.4%).
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Turkey Trade Deficit Widens in January
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.
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