Turkey's trade deficit surged by 232.2 percent to USD 2.23 billion in November 2019 from USD 0.67 billion in the corresponding month of the previous year. This was the largest trade gap since August, as exports edged up 0.1 percent while imports rose at a much faster 9.7 percent. From January to November, the country's trade gap narrowed considerably by 48.8 percent to USD 26.80 billion. Balance of Trade in Turkey averaged -1716.19 USD Million from 1957 until 2019, 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. source: Turkish Statistical Institute

Balance of Trade in Turkey is expected to be 800.00 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 -1000.00 in 12 months time. In the long-term, the Turkey Balance of Trade is projected to trend around -900.00 USD Million in 2020, according to our econometric models.

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Turkey Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-2234.00 -1823.20 24.51 -10453.06 1957 - 2019 USD Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 07:00 AM Aug $-2.5B $-3.20B $-1.0B
2019-10-31 07:00 AM Sep $-2.06B $-2.5B $-1.2B
2019-11-29 07:00 AM Oct $-1.81B $-2.07B $0.2B
2019-12-31 07:00 AM Nov $-2.23B $-1.82B $-1.2B
2020-01-31 07:00 AM Dec $-2.23B $ -0.4B


News Stream
2019-11-29
Turkish Trade Gap Widens Sharply in October
Turkey's trade deficit jumped by 263.6 percent to USD 1.81 billion in October 2019 from USD 0.50 billion in the corresponding month of the previous year. Exports edged down 0.1 percent while imports increased 8.0 percent. From January to October, the country's trade gap narrowed considerably by 52.5 percent to USD 24.54 billion.

2019-10-31
Turkish Trade Gap Widens in September
Turkey's trade deficit rose by 6.6 percent to USD 2.06 billion in September 2019 from USD 1.93 billion in the corresponding month of the previous year. Exports increased 0.3 percent while imports went up at a faster 1.0 percent. From January to September, the country's trade gap narrowed considerably by 55.7 percent to USD 22.66 billion.

2019-09-30
Turkey Trade Gap Little-Changed in August
Turkey's trade deficit rose slightly by 1.2 percent to USD 2.50 billion in August 2019 from USD 2.47 billion in the corresponding month of the previous year. Exports increased 1.6 percent and imports went up 1.5 percent. From January to August, the country's trade gap narrowed considerably by 58.2 percent to USD 20.58 billion.

2019-08-29
Turkey Trade Gap Narrows in July
Turkey's trade deficit narrowed by 46.9 percent to USD 3.19 billion in July 2019 from USD 6.01 billion in the corresponding month of the previous year. Exports jumped 7.9 percent while imports slumped 8.5 percent. From January to July, the trade deficit narrowed sharply to USD 18.07 billion from USD 46.81 billion in the same period of 2018.

2019-07-31
Turkish Trade Deficit Narrows as Exports, Imports Fall
Turkey's trade deficit narrowed by 42.5 percent to USD 3.18 billion in June 2019 from USD 5.53 billion in the corresponding month of the previous year, as exports fell 14.3 percent while imports plunged 22.7 percent. From January to June, the trade deficit shrank to USD 14.85 billion from USD 40.80 billion in the same period of 2018.

2019-06-28
Turkish Trade Deficit Narrows Sharply in May
Turkey's trade deficit shrank by 76.5 percent to USD 1.84 billion in May 2019 from USD 7.81 billion in the corresponding month of the previous year. Exports jumped 12.1 percent to an all-time high while imports tumbled 19.3 percent. From January to May, the trade deficit slumped to USD 11.64 billion from USD 35.28 billion in the same period of 2018.


Turkey Balance of Trade
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.

Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -2234.00 -1823.20 24.51 -10453.06 USD Million [+]
Current Account -518.00 1558.00 2626.00 -9407.00 USD Million [+]
Current Account to GDP -3.50 -5.60 1.90 -8.90 percent [+]
Imports 17736.75 17470.98 23245.30 15.00 USD Million [+]
Exports 15502.75 15647.78 15941.22 7.10 USD Million [+]
External Debt 433889.00 446860.00 466845.00 43911.00 USD Million [+]
Terms of Trade 104.56 103.64 147.63 93.96 points [+]
Capital Flows 2371.00 -1840.00 9186.00 -6811.00 USD Million [+]
Foreign Direct Investment 13200.00 10900.00 22046.00 1800.00 USD Million [+]
Remittances 13.00 17.00 574.00 11.00 USD Million [+]
Tourism Revenues 4402.00 5244.00 5244.00 79.00 USD Million [+]
Tourist Arrivals 2190622.00 4291574.00 6617380.00 213998.00 [+]
Gold Reserves 385.45 320.69 385.45 116.00 Tonnes [+]
Terrorism Index 6.53 7.04 7.52 4.62 [+]
Weapons Sales 364.00 245.00 364.00 3.00 USD Million [+]
Crude Oil Production 60.00 60.00 72.00 38.00 BBL/D/1K [+]