FX.co ★ Turkey’s Trade Gap Narrows to $8.4 Billion in January, Easing From December Deficit

Turkey’s trade deficit narrowed in January 2026, with the Trade Ministry reporting a balance of -$8.40 billion, an improvement from the -$9.40 billion shortfall recorded in December 2025. The latest data, updated on 2 February 2026, signal a modest easing in external imbalances at the start of the year.

While the trade balance remains firmly in negative territory, the $1 billion month-on-month reduction in the deficit may point to a combination of softer import demand, stronger export performance, or both. The January reading will be closely watched by market participants as they assess Turkey’s external position and the potential implications for currency stability and broader economic policy in the coming months.

Analysts and investors are likely to look for confirmation of this improving trend in subsequent releases, as sustained narrowing in the trade gap could provide some support to Turkey’s macroeconomic outlook and reduce pressure on its financing needs from abroad.