FX.co ★ Turkey Trade Deficit Narrows to Four-Year Low

In August 2025, Turkey recorded a trade deficit of USD 4.21 billion, a decrease from the USD 5.00 billion deficit seen in the same period the previous year. This represents the smallest trade gap since October 2021. While exports experienced a marginal decline of 1.2% year-on-year, totaling USD 21.72 billion, the agricultural sector dropped by 11.9%, mining by 8.7%, and manufacturing by 1.0%. These declines overshadowed significant gains in other sectors, which rose by 43.7%. Germany continued to be Turkey's principal export destination, accounting for 8.2% of exports, followed by the United States at 5.9% and the United Kingdom at 5.3%.

On the import side, there was a reduction of 3.9%, bringing the total to USD 25.94 billion. This decline was primarily due to decreased imports of intermediate goods, which fell by 5.8%, and capital goods, down 3.3%. Nevertheless, there were increases in consumer goods, rising by 2.7%, and other products, surging by 426.2%. Leading sources of imports were China (15.0%), Russia (12.7%), Germany (8.7%), and the United States (5.0%). From January to August, the trade deficit expanded to USD 60.14 billion, up from USD 54.81 billion reported during the same period in 2024.