Turkey's trade deficit widened to USD 6.28 billion in August of 2020 from USD 2.34 billion in the corresponding month of the previous year. Exports declined 5.7 percent to USD 12.46 billion, with declines seen in mining & quarrying (-16 percent) and manufacturing (-6 percent) while sales of agriculture, forestry and fishing jumped 11.3 percent. Imports climbed 20.4 percent to USD 18.7 billion, due to intermediate (17.8 percent), capital (39.4 percent) and consumer goods (20.3 percent). Considering the first eight months of the year, the trade deficit widened to USD 33 billion from USD 19.4 billion as exports plunged 12.9 percent and imports fell at a slower 1.2 percent. source: Turkish Statistical Institute
Balance of Trade in Turkey averaged -1742.54 USD Million from 1957 until 2020, 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 2020.
Balance of Trade in Turkey is expected to be 300.00 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 2380.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around -1900.00 USD Million in 2021 and -2000.00 USD Million in 2022, according to our econometric models.