FX.co ★ Turkey Trade Gap Widens in February

Turkey’s trade deficit widened to USD 9.0 billion in February 2026, up from USD 7.8 billion in the same month a year earlier. Imports increased by 5.5% year-on-year to USD 30.1 billion, driven by higher purchases of capital goods (+15.8%), intermediate goods (+4.7%), and other goods (+168.3%). China remained Turkey’s largest import partner, accounting for 13.7% of total imports, followed by Russia (8.3%), Germany (7.3%), Switzerland (5.6%), and the US (4.5%). Together, these five countries represented 39.5% of total imports.

Exports grew at a more modest pace, rising 1.5% to USD 21.0 billion. The increase was supported by mining and quarrying (+7.3%) and by manufacturing, which made up 93.8% of total exports. Germany stayed Turkey’s leading export destination with an 8.8% share, followed by the UK (5.9%), the US (5.9%), Italy (5.3%), and France (4.4%). Collectively, these markets accounted for 30.3% of total exports.

Over the January–February period, exports declined 1.3% to USD 41.4 billion, while imports rose 2.8% to USD 58.8 billion. As a result, the trade deficit widened by 13.8% year-on-year to USD 17.4 billion.