Turkey’s Trade Deficit Widens on Stronger Import Growth

Turkey’s trade deficit widened to $5.24 billion in August 2026 from $4.28 billion a year earlier, in line with preliminary estimates. Imports jumped 10.5% to $28.71 billion, driven by stronger purchases of intermediate goods (+14.5%) and consumption goods (+4.1%). China was the largest source of imports at $4.71 billion, followed by Germany ($2.68 billion), Russia ($1.94 billion), the US ($1.87 billion) and Italy ($1.37 billion). Exports rose a more modest 8.1% to $23.47 billion, led by manufacturing goods (+6.6%), which accounted for 94% of total exports, alongside strong growth in agricultural (+27.3%) and mining (+54.7%) shipments. Germany was the largest export market at $1.76 billion, followed by the US ($1.73 billion) and the UK ($1.20 billion). In January-August, the trade deficit widened to $65.79 billion from $60.21 billion, as imports continued to outpace exports.

Turkey’s trade deficit widened to $5.24 billion in August 2026 from $4.28 billion in the same month a year earlier, according to preliminary data. Imports rose 10.5% year-on-year to $28.7 billion, mainly from China ($4.7 billion), Germany ($2.1 billion), and the US ($1.9 billion). By sector, imports were mainly from the manufacturing industry (82.4%), mining and quarrying (12%), and agriculture, forestry and fishing (2.9%). Meanwhile, exports increased 8.1% to $23.5 billion, with Germany as the top export destination ($1.8 billion), followed by the US ($1.7 billion) and the UK ($1.2 billion). By sector, exports were dominated by the manufacturing industry (93.5%), agriculture, forestry and fishing (3.2%), and mining and quarrying (2.3%). During January-August, the country’s cumulative trade deficit reached $65.8 billion, with exports rising 4% to $185 billion and imports increasing 5.3% to $250.8 billion.

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.