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.

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Turkey Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-6278.02 -2696.87 24.51 -10453.06 1957 - 2020 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-30 07:00 AM May $-3.42B $-4.56B $-1.8B
2020-07-29 07:00 AM Jun $-2.85B $-3.42B $ -3.3B
2020-08-31 07:00 AM Jul $-2.69B $-2.85B $-2.4B
2020-09-30 07:00 AM Aug $-6.28B $-2.7B $-2.2B
2020-10-30 07:00 AM Sep $-6.28B $-4.3B
2020-11-30 07:00 AM Oct $-1.6B
2020-12-31 07:00 AM Nov $-1.8B


News Stream
Turkish Trade Deficit Widens in August
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.
2020-09-30
Turkey Trade Gap Falls in July
Turkey's trade deficit narrowed to USD 2.69 billion in July of 2020 from USD 3.29 billion in the corresponding month of the previous year. Exports went down 5.8 percent to USD 15 billion, with declines seen in mining (-11.8 percent) and manufacturing (-6.3 percent) while sales of agriculture, forestry and fishing jumped 21.5 percent. Imports went down 7.9 percent to USD 17.7 billion, due to intermediate (-11.1 percent) and capital goods (-4 percent) while purchases of consumption goods increased 10.3 percent. Considering the first seven months of the year, the trade deficit widened sharply yo USD 26.6 billion from USD 17.1 billion as exports plunged 13.7 percent and imports fell at a slower 3.9 percent.
2020-08-31
Turkish Trade Deficit Narrows in June
Turkey's trade deficit narrowed to USD 2.85 billion in June of 2020 from USD 3.43 billion in the corresponding month of the previous year. Exports climbed 15.7 percent year-on-year to USD 13.46 billion, due to manufacturing products (+16.3 percent) and agriculture, forestry and fishing (+28.1 percent). On the other hand, sales of mining & quarrying fell 24.9 percent. Meantime, imports increased at a softer 8.3 percent to USD 16.31 billion, due to intermediate goods (4.2 percent); capital goods (27.5 percent) and consumption goods (15.4 percent). Considering the first half of the year, the country’s trade gap widened to USD 23.87 billion from USD 13.79 billion a year earlier.
2020-07-29
Turkey Trade Gap Widens Sharply in May
Turkey's trade deficit widened to USD 3.42 billion in May 2020 from USD 1.69 billion in the corresponding month of the previous year. Exports slumped 40.9 percent year-on-year to USD 9.97 billion, mostly due to lower sales of manufacturing products (-41.6 percent), mining & quarrying (-43.5 percent) and agricultures, forestry & fishing (-14.1 percent). Imports plunged 27.8 percent to an over ten-year low of USD 13.38 billion, due to lower purchases of intermediate goods (-29.2 percent), consumption (-37.9 percent) and capital (-11.4 percent). Considering the first five months of the year, the country’s trade gap increased sharply to USD 21.01 billion from USD 10.46 billion a year earlier.
2020-06-30

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.