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

Turkey's trade deficit increased by 5.7 percent to USD 7.76 billion in May 2018 from USD 7.34 billion in the same month a year ago, as imports grew slightly faster than exports. Balance of Trade in Turkey averaged -1694.71 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 Gap Widens in May


Turkey's trade deficit increased by 5.7 percent to USD 7.76 billion in May 2018 from USD 7.34 billion in the same month a year ago, as imports grew slightly faster than exports.

In May 2018, imports grew 5.5 percent year-on-year to USD 22.06 billion, boosted by higher purchases of intermediate goods (8.0 percent) and capital goods (6.6 percent) while the ones of consumption goods fell (-9.6 percent). Among major trading partners, imports rose mostly from China (7.8 percent), Germany (11.1 percent), Russia (19.0 percent), the UK (152.1 percent), Italy (5.9 percent), Iran (14.0 percent) and India (34.8 percent) while they fell from the US (-13.9 percent).

Exports advanced 5.3 percent to USD 14.31 billion, underpinned by sales of agriculture, hunting and forestry (35.0 percent), fisheries (21.3 percent) and manufactured products (4.5 percent). In contrast, shipments declined for mining products (-1.0 percent). Among major trading partners, sales went up mainly to Germany (10.0 percent), Italy (26.0 percent), the UK (10.1 percent), Spain (49.4 percent) and France (19.7 percent). In contrast, the ones to Iraq (-17.0 percent) and to the US (-33.8 percent) declined.

Considering the January to May period, the trade deficit widened by 41.4 percent to USD 35.20 billion from USD 24.90 billion, as purchases jumped 17.2 percent to USD 104.5 billion and exports increased 7.9 percent to USD 69.31 billion.


Turkish Statistical Institute | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
6/29/2018 11:26:23 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-04-30 07:00 AM Balance of Trade $-5.86B $-5.76B $-4.9B
2018-05-31 07:10 AM Balance of Trade $-6.69B $-5.86B $-5.2B
2018-06-29 07:00 AM Balance of Trade $-7.76B $-6.69B $-7.4B
2018-07-31 07:00 AM Balance of Trade $-7.76B $ -5.3B
2018-08-29 07:00 AM Balance of Trade
2018-09-28 07:00 AM Balance of Trade


Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -7759.34 -6699.04 24.51 -10453.06 USD Million [+]
Exports 14305.73 13855.88 15559.51 7.10 USD Million [+]
Imports 22065.07 20554.92 23245.30 15.00 USD Million [+]
Current Account -5890.00 -5430.00 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 102.92 105.17 147.63 93.96 Index Points [+]
Capital Flows 2502.00 5162.00 9186.00 -5630.00 USD Million [+]
Foreign Direct Investment 10900.00 12300.00 22046.00 1800.00 USD Million [+]
Remittances 25.00 22.00 574.00 22.00 USD Million [+]
Tourism Revenues 1613.00 1301.00 4947.00 79.00 USD Million [+]
Tourist Arrivals 3678440.00 2655561.00 5480502.00 213998.00 [+]
Gold Reserves 236.00 582.20 582.20 116.10 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 53.00 52.00 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-7759.34 -6699.04 24.51 -10453.06 1957 - 2018 USD Million Monthly




balance of trade by Country
Country Last
Australia 827.00 May/18
Brazil 5881.58 Jun/18
Canada -2771.20 May/18
China 416.13 Jun/18
Euro Area 16514.10 May/18
France -6005.00 May/18
Germany 19669.00 May/18
India -16600.00 Jun/18
Indonesia 1742.60 Jun/18
Italy 3377.54 May/18
Japan 721.41 Jun/18
Mexico -1587.00 May/18
Netherlands 5030.00 May/18
Russia 15151.00 May/18
South Korea 6331.21 Jun/18
Spain -3050045.00 Apr/18
Switzerland 1309.00 Jun/18
Turkey -7759.34 May/18
United Kingdom -2790.00 May/18
United States -43053.00 May/18


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