Imports to Turkey slumped 21.3 percent from a year earlier to USD 16.2 billion in November 2018. Purchases of intermediate goods accounted for 76.1 percent of total imports in November and dropped 17.7 percent. Additionally, imports fell for both capital (-20.0 percent) and consumption goods (-43.1 percent). Among major trading partners, imports declined mainly from Russia (-7.9 percent), Germany (-21.0 percent), China (-29.8 percent), Italy (-25.1 percent), India (-16.1 percent), France (-36.2 percent), the UK (-30.9 percent), South Korea (-23.7 percent) and Japan (-4.3 percent). Meanwhile, purchases from the US increased 15.0 percent. Imports in Turkey averaged 4811.35 USD Million from 1957 until 2018, reaching an all time high of 23245.30 USD Million in May of 2013 and a record low of 15 USD Million in August of 1958.
Imports in Turkey is expected to be 19500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Turkey to stand at 18500.00 in 12 months time. In the long-term, the Turkey Imports is projected to trend around 24400.00 USD Million in 2020, according to our econometric models.