FX.co ★ Turkey Trade Gap Widens

Turkey’s trade deficit widened to $7.34 billion in July 2026, up from $6.46 billion in the same month a year earlier, broadly in line with preliminary estimates.

Imports rose 5.1% year-on-year to $33.0 billion, largely driven by an 11.8% increase in intermediate goods. In contrast, imports of capital goods fell by 11.5% and consumer goods by 1.3%. The leading sources of imports were China (15.3%), Russia (9.8%), Germany (7.6%), the United States (5.7%), and Italy (4.7%).

Exports grew at a more moderate pace of 2.9% year-on-year, reaching $25.62 billion, supported mainly by a 1.7% increase in manufacturing exports. Exports from agriculture, forestry and fishing surged 39.6%, while those from mining and quarrying rose 11.3%. The main export destinations were Germany (8.0%), the United States (6.6%), the United Kingdom (5.3%), Iraq (4.3%), and Italy (4.3%).

Over the first seven months of the year, the trade deficit widened to $60.55 billion, compared with $55.92 billion in the same period a year earlier.