Turkey Trade Deficit Widens in June

Turkey’s trade deficit widened to $10.4 billion in June 2026 from $8.2 billion in the corresponding month a year ago, confirming preliminary data. The shortfall was the largest since March, as import growth outpaced the increase in exports. Imports jumped 23% year-on-year to a six-month high of $35.3 billion, amid a sharp rise in imports of intermediate goods (30%) and capital goods (19.6%), which more than offset a decline in consumer goods imports (-1.2%). The top sources of imports were China (15%), Russia (10.4%), Germany (7.0%), the US (5.3%), and Italy (3.9%). Exports grew 21.7% to $24.9 billion, driven mainly by a 20.2% increase in manufacturing exports. Exports of agriculture, forestry and fishing (48.4%) and mining and quarrying (41.4%) also went up. The main export partners were Germany (7.9%), the US (6.2%), Italy (5.4%), the UK (5%), and Spain (4.5%). In the first half of 2026, the trade deficit widened to $53.1 billion from $49.5 billion last year.

Turkey’s trade deficit widened to USD 10.4 billion in June 2026 from USD 8.2 billion in the same month a year earlier, according to preliminary data from the Trade Ministry. The shortfall was the largest since March, as imports climbed 23.1% year-on-year to a six-month high of USD 35.3 billion, outpacing a 21.9% increase in exports to USD 24.9 billion. For the first half of 2026, Turkey recorded a cumulative trade deficit of USD 53.1 billion. During the period, imports rose 4.6% compared with the same period a year earlier to USD 189.2 billion, while exports increased at a slower pace of 3.6% to USD 136.1 billion, highlighting a persistent deficit in the country’s external trade position.

Turkey’s trade deficit narrowed to USD 5.6 billion in May 2026 from USD 6.6 billion in the same month a year earlier. It was the smallest trade gap since August 2025, as exports declined less than imports. Exports fell 9.5% year-on-year to USD 22.5 billion, with shipments decreasing across agriculture, forestry and fishing (-2.2%), mining and quarrying (-2.1%), and manufacturing (-10.0%). Germany remained the top destination, accounting for 7.6% of total exports, followed by the US (6.8%), the UK (6.1%), Italy (5.1%), and Spain (4.1%). Meanwhile, imports declined 10.8% to USD 28.1 billion, weighed down by lower purchases of capital goods (-18.3%), intermediate goods (-4.1%), and consumption goods (-30.1%). Russia remained the leading source of imports, accounting for 13.4%, followed by China (12.2%), Germany (7.3%), and the US (4.3%). In the first five months of the year, the trade deficit widened to USD 42.7 billion from USD 41.2 billion in the corresponding period of 2025.