Turkey posted a trade deficit of USD 5.40 billion in November 2021, the largest gap since August 2020, as exports and imports surged from a year earlier amid a continued recovery in global demand, rising commodity prices and a falling lira. Exports jumped 33.7 percent to an all-time high of USD 21.51 billion, boosted by sales of manufactured products (34.4 percent), agricultural goods (17.1 percent), and mining and quarrying (23.5 percent). The main export partner was Germany, followed by the UK, the US, Iraq and Italy. Meanwhile, imports advanced 27.3 percent also to a record of USD 26.91 billion, due to purchases of intermediate (39.8 percent) and capital goods (3.4 percent). Imports of consumption goods, however, fell 13.7 percent. Key import partners were China, Russia, Germany, the US and Italy. Considering January-November, the trade deficit narrowed to USD 39.35 billion from USD 45.33 billion in the same period last year. source: Turkish Statistical Institute
Balance of Trade in Turkey averaged -1781.34 USD Million from 1957 until 2021, reaching an all time high of 24.51 USD Million in December of 1971 and a record low of -10453.06 USD Million in September of 2011. This page provides the latest reported value for - Turkey Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Balance of Trade in Turkey is expected to be -4200.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Balance of Trade is projected to trend around -2600.00 USD Million in 2022 and -3500.00 USD Million in 2023, according to our econometric models.