Turkey's trade deficit narrowed to USD 5.74 billion in October 2024 from USD 6.6 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. This marked the highest trade surplus since July, as exports rose 3.6% year-on-year to USD 23.62 billion, while imports increased at a softer 0.2% to USD 29.36 billion. Considering January to October 2024, the country recorded a trade gap of USD 65.6 billion, as imports (7.2%) rose much faster than exports (3.2%). source: Turkish Statistical Institute

Turkey recorded a trade deficit of 5745 USD Million in October of 2024. Balance of Trade in Turkey averaged -2049.75 USD Million from 1957 until 2024, reaching an all time high of 187.98 USD Million in October of 2018 and a record low of -14290.14 USD Million in January of 2023. 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 November of 2024.

Turkey recorded a trade deficit of 5745 USD Million in October of 2024. Balance of Trade in Turkey is expected to be -5080.00 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 -5000.00 USD Million in 2025 and -1500.00 USD Million in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-31 07:00 AM Balance of Trade Final Sep $-5.13B $-5.26B $-5.12B
2024-11-04 06:15 AM Balance of Trade Prel Oct $-5.74B $-5.13B $-5.6B
2024-11-28 07:00 AM Balance of Trade Final Oct $-5.13B $-5.7B


Related Last Previous Unit Reference
Balance of Trade -5745.00 -5128.74 USD Million Oct 2024
Exports 23620.00 21987.01 USD Million Oct 2024
Imports 29364.00 27115.75 USD Million Oct 2024
Tourism Revenues 23220.00 14880.00 USD Million Sep 2024

Turkey Balance of Trade
The Turkish trade balance has been in deficit since 1947. Turkey major exports are 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
-5745.00 -5128.74 187.98 -14290.14 1957 - 2024 USD Million Monthly


News Stream
Turkey Trade Deficit Narrows in October
Turkey's trade deficit narrowed to USD 5.74 billion in October 2024 from USD 6.6 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. This marked the highest trade surplus since July, as exports rose 3.6% year-on-year to USD 23.62 billion, while imports increased at a softer 0.2% to USD 29.36 billion. Considering January to October 2024, the country recorded a trade gap of USD 65.6 billion, as imports (7.2%) rose much faster than exports (3.2%).
2024-11-04
Turkey Trade Deficit Widens in September
Turkey's trade deficit rose slightly to USD 5.13 billion in September 2024 from USD 5.10 billion in the corresponding month of the previous year, as exports fell more than imports. Exports declined 1.9% year-on-year to USD 21.99 billion, dragged by lower sales for agriculture, forestry & fishing (-16.2%) and manufacturing goods (-1.5%). Germany continued to be Turkey’s top export destination (7.6%), followed by the UK (6.4%), the US (5.7%), Iraq (5.2%), and Italy (4.8%). At the same time, imports dropped 1.4% to USD 27.12 billion, mainly due to reduced purchases for intermediate goods (-6.2%). Turkey’s largest import sources were China (13.8%), Russia (12.2%), Germany (9.3%), Italy (5.2%), and the US (5.1%). Considering the January-September period, the country’s trade gap narrowed to USD 60.43 billion from USD 87.66 billion in the same period last year.
2024-10-31
Turkey Trade Deficit Widens in September
Turkey's trade deficit edged up to USD 5.122 billion in September 2024 from USD 5.095 billion in the same month last year, preliminary estimates from the Trade Ministry showed. Exports fell 1.8% year-on-year to USD 22 billion, while imports dropped 1.4% to USD 27.1 billion. Considering the January-September period, the country recorded a trade gap of USD 60.1 billion, as imports (7.9%) rose much faster than exports (3.2%).
2024-10-04