Turkey's trade deficit narrowed sharply to USD 4.26 billion in August 2021, from USD 6.30 billion in the same period last year, as exports jumped 51.9 percent amid a solid recovery in global demand. Sales were up for manufactured products (52.3 percent), agricultural goods (24.7 percent), and mining and quarrying (57.9 percent). The main export partner was Germany, followed by the US, the UK, Iraq and Spain. Meanwhile, imports advanced 23.6 percent, due to purchases of intermediate (27.6 percent), capital (14.5 percent) and consumption goods (5.1 percent). Key import partners were China, Russia, Germany, the US and Italy. Considering January-August, the trade deficit narrowed to USD 29.78 billion from USD 33.02 billion in the same period last year. source: Turkish Statistical Institute
Balance of Trade in Turkey averaged -1775.89 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 October 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.