Turkey Balance of Trade  1957-2018 | Data | Chart | Calendar | Forecast

The Turkish trade gap narrowed 32.6 percent year-on-year to USD 5.98 billion in July of 2018 from USD 8.88 billion in the same month a year earlier, as imports fell while exports increased. Balance of Trade in Turkey averaged -1705.71 USD Million from 1957 until 2018, 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.

Turkey Balance of Trade
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Turkey Trade Deficit Narrows 32.6% YoY in July


Turkish trade gap narrowed 32.6 percent year-on-year to USD 5.98 billion in July of 2018 from USD 8.88 billion in the same month a year earlier, as imports fell while exports increased.

Exports rose 11.6 percent to USD 14.08 billion. Sales of manufactured products which accounted for 94.9 percent of total shipments edged up 11.9 percent. The ratio of high technology products in manufacturing industries was 2.8 percent and the ratio of medium-high-technology was 37.1 percent. Also, sales advanced for agriculture and forestry (8.1 percent) and fisheries (9.5 percent). Meanwhile, exports went down for mining and quarrying (-0.2 percent). Among major export partners, shipments increased for Germany (6.9 percent), the UK (24.6 percent), the US (33.3 percent), Italy (8.6 percent) and France (24.5 percent). In contrast, exports decreased to Iraq (-10.3 percent), UAE (-72.8 percent), Saudi Arabia (-9.9 percent) and Iran (-30.3 percent).

Imports dropped 6.7 percent to USD 20.06 billion. Purchases of intermediate goods accounted for 75.8 percent of total imports in July and decreased by 4.5 percent. Additionally, purchases declined for capital goods (-9.0 percent); consumption (-15.3 percent) and others (-57.9 percent). Imports decreased mainly from China (-7.4 percent), Germany (-7.5 percent), the US (-18.4 percent), Italy (-19.8 percent) and Iran (-01.1 percent). On the other hand, purchases advanced from Russia (4.8 percent), India (91.6 percent), Spain (35.5 percent), Brazil (77.3 percent) and Japan (1.1 percent).

Considering the first seven months of the year, exports increased 7.0 percent and imports went up 10.2 percent, thus widening the trade deficit by 17.4 percent to USD 46.75 billion.

Compared with the previous month, seasonally and calendar adjusted exports advanced by 5.1 percent while imports decreased by 1.3 percent.


Turkish Statistical Institute | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/29/2018 7:32:01 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-06-29 07:00 AM Balance of Trade $-7.76B $-6.69B $-7.4B
2018-07-31 07:00 AM Balance of Trade $-5.5B $-7.8B $ -5.3B
2018-08-29 07:00 AM Balance of Trade $-5.98B $-5.5B $-6.6B
2018-09-28 07:00 AM Balance of Trade $-5.98B $ -4.4B
2018-10-31 07:00 AM Balance of Trade $ -3.8B
2018-11-30 07:00 AM Balance of Trade


Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -5980.00 -5500.00 24.51 -10453.06 USD Million [+]
Exports 14077.35 12954.00 15557.79 7.10 USD Million [+]
Imports 20058.97 18450.69 23245.30 15.00 USD Million [+]
Current Account -1750.00 -2970.00 1132.00 -9407.00 USD Million [+]
Current Account to GDP -5.50 -3.80 2.00 -9.00 percent [+]
External Debt 466657.00 453207.00 466657.00 43911.00 USD Million [+]
Terms of Trade 103.29 104.05 147.63 93.96 Index Points [+]
Capital Flows -1232.00 2518.00 9186.00 -5630.00 USD Million [+]
Foreign Direct Investment 10900.00 12300.00 22046.00 1800.00 USD Million [+]
Remittances 25.00 32.00 574.00 22.00 USD Million [+]
Tourism Revenues 2813.00 2422.00 4947.00 79.00 USD Million [+]
Tourist Arrivals 5671801.00 4505594.00 5671801.00 213998.00 [+]
Gold Reserves 236.00 231.90 236.00 116.10 Tonnes [+]
Terrorism Index 7.52 6.74 7.52 4.62 [+]
Weapons Sales 244.00 311.00 311.00 3.00 USD Million [+]
Crude Oil Production 55.00 54.00 72.00 38.00 BBL/D/1K [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-5980.00 -5500.00 24.51 -10453.06 1957 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Argentina -789.00 Jul/18
Australia 1551.00 Jul/18
Brazil 3774.99 Aug/18
Canada -114.30 Jul/18
China 279.10 Aug/18
Euro Area 17555.60 Jul/18
France -3490.00 Jul/18
Germany 16461.00 Jul/18
India -17390.00 Aug/18
Indonesia -1021.40 Aug/18
Italy 5676.00 Jul/18
Japan -444.59 Aug/18
Mexico -2889.20 Jul/18
Netherlands 4612.00 Jul/18
Russia 13402.00 Jul/18
Saudi Arabia 120299.00 Mar/18
Singapore 6755.10 Aug/18
South Africa -4657.00 Jul/18
South Korea 6900.00 Aug/18
Spain -3247700.00 Jul/18
Switzerland 1407.94 Aug/18
Turkey -5980.00 Jul/18
United Kingdom -111.00 Jul/18
United States -50082.00 Jul/18


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