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.

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Turkey Balance of Trade


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.
Actual Previous Highest Lowest Dates Unit Frequency
-5402.27 -1502.49 24.51 -10453.06 1957 - 2021 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2021-11-29 07:00 AM Oct $-1.44B $-2.59B $-1.7B
2021-12-31 07:00 AM Nov $-5.4B $-1.5B $-2.3B
2022-01-31 07:00 AM Dec $-5.4B $-4.2B


Related Last Previous Unit Reference
Balance of Trade -5402.27 -1502.49 USD Million Nov/21
Imports 26908.47 22230.46 USD Million Nov/21
Exports 21506.20 20727.97 USD Million Nov/21
Tourism Revenues 11395.00 3004.00 USD Million Sep/21


News Stream
Turkey Posts Largest Trade Gap in 15 Months
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.
2021-12-31
Turkish Trade Gap Smallest in Nearly 3 Years
Turkey's trade deficit narrowed sharply to USD 1.44 billion in October 2021, from USD 2.40 billion in the same period last year. It was the smallest trade gap since November 2018, as exports surged 20.1 percent to a record high of USD 20.79 billion, amid a further global demand recovery and the falling lira. Sales grew for manufactured products (20.3 percent), agricultural goods (12.5 percent), and mining and quarrying (19.9 percent). The main export partner was Germany, followed by the US, the UK, Iraq and Italy. Meanwhile, imports increased at a softer 12.8 percent, due to purchases of intermediate (28.6 percent). Meanwhile, imports fell for consumption goods (-20.4 percent) and capital goods (-25.6 percent). Key import partners were China, Russia, Germany, the US and Italy. Considering January-October, the trade deficit narrowed to USD 33.86 billion from USD 40.28 billion in the same period last year.
2021-11-29
Turkish Trade Gap Narrows as Exports Hit Record
Turkey's trade deficit narrowed sharply to USD 2.55 billion in September 2021, from USD 4.86 billion in the same period last year, as exports jumped 30 percent, helped by the continued global demand recovery and the falling lira. Sales were up for manufactured products (29.7 percent), agricultural goods (29.1 percent), and mining and quarrying (38.8 percent). The main export partner was Germany, followed by the US, the UK, Iraq and Italy. Meanwhile, imports advanced at a slower 11.9 percent, due to purchases of intermediate (16.5 percent) and capital goods (0.2 percent). Imports of consumption goods, however, fell 4.9 percent. Key import partners were China, Russia, Germany, the US and India. Considering January-September, the trade deficit narrowed to USD 32.35 billion from USD 37.88 billion in the same period last year.
2021-10-27