Turkey Trade Gap Widens

Turkey’s trade deficit widened to $7.34 billion in July 2026 from $6.46 billion in the same month a year ago, roughly in line with preliminary data. Imports grew 5.1% year-on-year to $33.0 billion, driven by an 11.8% rise in intermediate goods, while capital goods (-11.5%) and consumer goods (-1.3%) declined. The top import sources were China (15.3%), Russia (9.8%), Germany (7.6%), the US (5.7%) and Italy (4.7%). Meanwhile, exports grew at a milder 2.9% year-on-year to $25.62 billion, led by a 1.7% increase in manufacturing exports. Exports of agriculture, forestry and fishing (39.6%) and mining and quarrying (11.3%) also went up. The main export partners were Germany (8.0%), the US (6.6%), the UK (5.3%), Iraq (4.3%), and Italy (4.3%). In the first seven months of the year, the trade deficit widened to $60.55 billion from $55.92 billion last year.

Turkey's trade deficit widened to $7.37 billion in July 2026 from $6.46 billion a year earlier, according to preliminary data, as import growth continued to outpace exports. Imports increased 5.2% year-on-year to $32.99 billion, while exports rose 2.9% to $25.62 billion. In the first seven months of 2026, the country's cumulative trade deficit reached $60.51 billion. During the period, imports climbed 4.7% to $222.11 billion, while exports increased 3.4% to $161.60 billion.

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.