Turkey's trade deficit widened to USD 8.8 billion in November of 2022, from USD 5.4 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Imports rose 14% to USD 30.7 billion, while exports increase 1.9% to USD 21.9 billion. Considering the January to November period of 2022, the country's trade deficit surged by 153.6% to USD 99.9 billion, as imports soared 36.6% to USD 331.1 billion while exports rose at a softer 13.9% to USD 231.2 billion. source: Turkish Statistical Institute

Balance of Trade in Turkey averaged -1878.90 USD Million from 1957 until 2022, reaching an all time high of 187.98 USD Million in October of 2018 and a record low of -11245.98 USD Million in August of 2022. 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 December of 2022.

Balance of Trade in Turkey is expected to be -2600.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Balance of Trade is projected to trend around -3500.00 USD Million in 2023, according to our econometric models.

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Turkey Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-11-29 07:00 AM Balance of Trade Final Oct $-7.87B $-9.6B $-8.01B
2022-12-02 08:40 AM Balance of Trade Prel Nov $-8.8B $-7.87B
2022-12-30 07:00 AM Balance of Trade Final Nov $-7.87B $-8.8B


Related Last Previous Unit Reference
Balance of Trade -8801.00 -7870.00 USD Million Nov 2022
Imports 30700.00 29300.00 USD Million Nov 2022
Exports 21900.00 21300.00 USD Million Nov 2022
Tourism Revenues 17950.00 8720.00 USD Million Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-8801.00 -7870.00 187.98 -11245.98 1957 - 2022 USD Million Monthly

News Stream
Turkish Trade Gap Widens in November
Turkey's trade deficit widened to USD 8.8 billion in November of 2022, from USD 5.4 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Imports rose 14% to USD 30.7 billion, while exports increase 1.9% to USD 21.9 billion. Considering the January to November period of 2022, the country's trade deficit surged by 153.6% to USD 99.9 billion, as imports soared 36.6% to USD 331.1 billion while exports rose at a softer 13.9% to USD 231.2 billion.
2022-12-02
Turkey Trade Deficit Continues to Widen in October
Turkey’s trade deficit widened by more than 400% year-on-year to USD 7.9 billion in October of 2022 from USD 1.5 billion in the corresponding period of the previous year. Exports rose 3 percent from a year earlier to USD 21.3 billion, driven by mining & quarrying sales (18.7 percent). The top partner country for exports was Germany (USD 1.7 billion). Meantime, imports jumped at a faster 31.4 percent to USD 29.2 billion, mainly due to purchases of consumption goods (39.3 percent). The top country for Turkey’s imports was Russia (USD 5 billion). Considering the first ten months of the year, Turkey recorded a trade gap of USD 91 billion, compared to the USD 34 billion deficit from the corresponding period of the previous year.
2022-11-29
Turkish Trade Gap Widens Sharply in October
Turkey's trade deficit widened by 430.4% year-on-year to USD 8.01 billion in October of 2022, from USD 1.51 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Imports jumped 31.9% to USD 29.3 billion, boosted by higher prices of energy products. Meanwhile, exports rose 2.8% to USD 21.3 billion. Considering the January to October period of 2022, the country's trade deficit surged by 168.5% to USD 91.10 billion, as imports soared 34.5% to USD 300.6 billion while exports rose at a softer 15.4% to USD 209.5 billion.
2022-11-02