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. source: Turkish Statistical Institute
Balance of Trade in Turkey averaged -1767.90 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 July of 2021.
Balance of Trade in Turkey is expected to be -1620.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Turkey to stand at -3300.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around -1300.00 USD Million in 2022 and -2500.00 USD Million in 2023, according to our econometric models.