Turkey's trade deficit widened by 53% year-on-year to USD 12.2 billion in February of 2023, from USD 8 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Imports rose 10.6% to USD 30.8 billion, mainly due to unprocessed gold imports. Considering the January to February period of 2023, acquisitions soared 15.6% to USD 64.4 billion. Meanwhile, exports declined 6.4% to USD 18.6 billion because of the effect of devastating earthquake which reduced exports by USD 1.5 billion in February. Considering the January to February period of 2023, shipments increased by 1.5% to USD 38.8 billion. source: Turkish Statistical Institute

Balance of Trade in Turkey averaged -1917.54 USD Million from 1957 until 2023, reaching an all time high of 187.98 USD Million in October of 2018 and a record low of -14370.00 USD Million in January of 2023. 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 March of 2023.

Balance of Trade in Turkey is expected to be -9500.00 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 -8000.00 USD Million in 2024, according to our econometric models.

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Turkey Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2023-02-27 07:00 AM Balance of Trade Final Jan $-14.24B $-9.7B $-14.3B
2023-03-02 08:05 AM Balance of Trade Prel Feb $-12.2B $-14.24B $-12.6B
2023-03-31 07:00 AM Balance of Trade Final Feb $-14.24B $-12.2B


Related Last Previous Unit Reference
Balance of Trade -12200.00 -14370.00 USD Million Feb 2023
Imports 30800.00 33700.00 USD Million Feb 2023
Exports 18600.00 19400.00 USD Million Feb 2023
Tourism Revenues 11374.00 17835.00 USD Million Dec 2022

Turkey Balance of Trade
The Turkish trade balance has been in deficit since 1947. Turkey major exports are 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
-12200.00 -14370.00 187.98 -14370.00 1957 - 2023 USD Million Monthly

News Stream
Turkish Trade Gap Widens in February
Turkey's trade deficit widened by 53% year-on-year to USD 12.2 billion in February of 2023, from USD 8 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Imports rose 10.6% to USD 30.8 billion, mainly due to unprocessed gold imports. Considering the January to February period of 2023, acquisitions soared 15.6% to USD 64.4 billion. Meanwhile, exports declined 6.4% to USD 18.6 billion because of the effect of devastating earthquake which reduced exports by USD 1.5 billion in February. Considering the January to February period of 2023, shipments increased by 1.5% to USD 38.8 billion.
2023-03-02
Turkish Trade Deficit Continues to Widen in January
Turkey’s trade deficit widened to $14.2 billion in January of 2023, the largest trade gap since comparable records began in 1957, from $10.3 billion in the corresponding period of the previous year. Exports rose 10.3% from a year earlier to $19.4 billion, mainly driven by agriculture, forestry & fishing (16.4%) and manufacturing (10.6%). The top partner countries for exports were Germany (9.4% of total exports); USA (6.1%); Russia (5.4%), UK (4.9%) and Italy (4.7%). Meanwhile, imports jumped at a faster 20.7% to $33.6 billion, mainly due to purchases of consumption goods (70.6%) and capital goods (32.7%). The main import partners were Russia (14.9% of total imports); Switzerland (12.9%); China (10.6%); Germany (5.4%) and USA (3.7%).
2023-02-27
Turkish Trade Gap Widens in January
Turkey's trade deficit widened by 39% year-on-year to reach a new record of USD 14.3 billion in January of 2023, from USD 10.3 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Imports rose 21% to a new record high of USD 33.7 billion, with energy purchases increasing by 238% to USD 8.8 billion and gold imports jumping 733% to USD 5.1 billion. Meanwhile, exports increased by 11% to USD 19.4 billion.
2023-02-02