FX.co ★ Turkey Trade Deficit Widens in February

Turkey’s trade deficit widened to USD 9.2 billion in February 2026 from USD 7.8 billion a year earlier, according to data from the Trade Ministry. Imports increased 6.1% year-on-year to USD 30.3 billion, driven by higher purchases of investment goods (+15.7%), raw materials (+5.6%), and other goods (+168.5%). The main import partners were China (13.6% of total imports), Germany (7.3%), and Switzerland (5.6%), posting annual growth rates of 16.6%, 3.5%, and 36.5%, respectively.

Exports grew at a more moderate pace, rising 1.6% to USD 21.1 billion. Stronger sales of investment goods (+26.9%), raw materials (+1%), and other goods (+17.8%) were partly offset by a 6.7% drop in consumer goods exports. The leading export destinations were Germany (8.8% of total shipments), the US (5.9%), and the UK (5.6%). Exports to Germany and the US increased by 10% and 4.4%, respectively, while shipments to the UK declined 5.8%.

Over the first two months of 2026, the trade deficit widened to USD 17.6 billion from USD 15.3 billion in the same period a year earlier.