Turkey Balance of Trade

Last Release

Dec 31, 2024

Actual

-8,824

Units In

USD Million

-7,458.95

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
24.51 Dec 1971	-14,370 Jan 2023	-2,073.14 USD Million	1957-2024	Turkish Statistical Institute

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.

Latest Updates

Turkey’s trade deficit widened to USD 8.82 billion in December 2024 from USD 6.01 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. This marked the largest trade deficit since April, as imports climbed by 11.1% year-on-year to USD 32.29 billion while exports rose at a softer 2.2% to USD 23.46 billion. Considering the whole year of 2024, the country recorded a trade deficit of USD 82.16 billion, with exports increasing by 2.5% while imports decreased by 4.9%.