Skip to content

Decline in Turkish exports fuels surge in trade deficit: Official data

Aerial view shows hundreds of newly manufactured vehicles lined up in rows Newly manufactured vehicles lined up for export at Gemlik Port in Bursa, Türkiye. (AA Photo)
By Anadolu Agency
Mar 27, 2025 11:40 AM

Türkiye’s trade deficit surged by 14.8% year-on-year to reach $7.77 billion in February, driven by rising imports and a decline in Turkish exports, according to official figures released Thursday.

Exports fell by 1.6% on an annual basis, totaling $20.76 billion in February, while imports increased by 2.4% to $28.53 billion, the Turkish Statistical Institute (TurkStat) reported.

When energy products and non-monetary gold are excluded, the foreign trade gap narrowed by 2.3% to $19.13 billion over the same period.

The exports-to-imports coverage ratio dropped from 75.7% in February 2024 to 72.8% this year.

Decline in Turkish exports fuels surge in trade deficit: Official data
File photo shows a Turkish port with container ships. (AA Photo)

Germany is top location for Turkish exports

In terms of destination markets, Germany remained Türkiye‘s largest export partner with $1.69 billion in goods, followed by the UK at $1.25 billion, the US at $1.2 billion, Italy at $1.09 billion, and Iraq at $1.01 billion.

On the import front, Russia led as Türkiye’s top supplier, accounting for $3.86 billion. China followed closely with $3.54 billion, while Germany, the US, and Switzerland contributed $2.14 billion, $1.27 billion, and $1.23 million, respectively.

Last Updated:  Mar 27, 2025 11:40 AM