Turkey's trade deficit widened to USD 4.28 billion in July 2021, from USD 2.83 billion in the same period last year, as global demand consolidated its recovery from the COVID-19 pandemic hit. Exports were up 10.2 percent, boosted by sales of manufactured products (9.8 percent), agricultural goods (3.1 percent), and mining and quarrying (38.9 percent). The main export partner was Germany, followed by the US, the UK, Italy and Iraq. Meanwhile, imports advanced 16.8 percent, led by purchases of intermediate goods (25.7 percent). Imports of consumption and capital goods declined 14.6 and 1.3 percent, respectively. Key import partners were China, Russia, Germany, the US and Italy. Considering January-July, the trade deficit narrowed to USD 25.48 billion from USD 26.72 billion in the same period last year. source: Turkish Statistical Institute

Balance of Trade in Turkey averaged -1772.63 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 September of 2021.

Balance of Trade in Turkey is expected to be -4600.00 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 -5600.00 USD Million in 2022 and -5500.00 USD Million in 2023, according to our econometric models.

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Turkey Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-4277.55 -2875.93 24.51 -10453.06 1957 - 2021 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-05-28 07:00 AM Apr $-3.06B $-4.66B $-4.0B
2021-06-30 07:00 AM May $-4.13B $-3.08B $-2.6B
2021-07-30 07:00 AM Jun $-2.85B $-4.13B $ -1.6B
2021-08-31 07:00 AM Jul $-4.28B $-2.88B $-3.2B
2021-09-30 07:00 AM Aug $-4.28B $-4.9B
2021-10-27 07:00 AM Sep $ -4.6B
2021-11-29 07:00 AM Oct
2021-12-31 07:00 AM Nov


News Stream
Turkish Trade Gap Widens in July
Turkey's trade deficit widened to USD 4.28 billion in July 2021, from USD 2.83 billion in the same period last year, as global demand consolidated its recovery from the COVID-19 pandemic hit. Exports were up 10.2 percent, boosted by sales of manufactured products (9.8 percent), agricultural goods (3.1 percent), and mining and quarrying (38.9 percent). The main export partner was Germany, followed by the US, the UK, Italy and Iraq. Meanwhile, imports advanced 16.8 percent, led by purchases of intermediate goods (25.7 percent). Imports of consumption and capital goods declined 14.6 and 1.3 percent, respectively. Key import partners were China, Russia, Germany, the US and Italy. Considering January-July, the trade deficit narrowed to USD 25.48 billion from USD 26.72 billion in the same period last year.
2021-08-31
Turkish Trade Gap Narrows Slightly in June
Turkey's trade deficit narrowed slightly to USD 2.85 billion in June 2021, from USD 2.86 billion in the same period last year, with both exports and imports jumping amid a recovery in demand following the easing of COVID-19 restrictions. Exports were up 46.9 percent, mainly boosted by sales of manufactured products (47.5 percent). The main export partner was Germany, followed by the US, the UK, Italy and Iraq. Meanwhile, imports advanced 38.7 percent, led by purchases of intermediate goods (41.5 percent), capital goods (40.8 percent) and consumption goods (18.6 percent). Key import partners were China, Russia, Germany, the US and Italy. Considering the first half of the year, the trade deficit narrowed to USD 21.17 billion from USD 23.89 billion in the same period last year.
2021-07-30
Turkish Trade Gap Widens in May
Turkey's trade deficit rose to USD 4.13 billion in May of 2021 from USD 3.44 billion in the corresponding month of the previous year. Exports advanced 65.7 percent year-on-year to USD 16.50 billion, boosted by mining & quarrying (110.2 percent), manufacturing (66.1 percent) and agriculture, forestry & fishing (34 percent). At the same time, imports rose 54 percent to USD 20.63 billion, driven by manufacturing (47.1 percent) and mining & quarrying (137.8 percent). However, purchases of agriculture, forestry & fishing fell (-6.5 percent). Considering the first five months of the year, the country’s trade gap narrowed to USD 18.28 billion from USD 21.04 billion in the same period a year ago, as exports and imports rose 38.3 percent and 25.2 percent, respectively.
2021-06-30
Turkey Posts Smallest Trade Gap in 6 Months
Turkey's trade deficit shrank to USD 3.06 billion in April of 2021 from USD 4.58 billion in the corresponding month of the previous year. It was the smallest monthly trade gap since last October, as exports surged 109.2 percent to USD 18.79 billion, boosted by sales of manufacturing (113.7 percent), mining & quarrying (57.3 percent) and agriculture, forestry and fishing (44.4 percent). At the same time, imports grew at a slower 61.1 percent to USD 21.84 billion, amid purchases of intermediate goods (65.9 percent), consumption goods (67.7 percent) and capital goods (35.4 percent). Considering the first four months of the year, the country’s trade gap narrowed to USD 14.13 billion from USD 17.60 billion in the same period a year ago, as exports and imports rose 33.1 percent and 19.7 percent. respectively.
2021-05-28

Turkey Balance of Trade
The Turkish trade balance has been in deficit since 1947. In 2017 the trade gap widened 36.8 percent from the previous year to USD 76.7 billion, as imports jumped 17.7 percent, the sharpest increase since 2011 and exports rose at a slower 10.2 percent. Turkey major exports were road vehicles, textiles, iron and steel, clothing and food, while imports were machinery and transport equipment, manufactured goods, mineral fuels and lubricants and chemicals. The biggest trade deficits were recorded with China, Russia, Germany, South Korea, Switzerland, India, Iran and Japan; and the largest surpluses were recorded with Iraq, the UAE, the UK, Israel, Syria, Northern Cyprus and Azerbaijan.