2025.09.0308:48:18UTC+00Turkey Trade Deficit Smallest Since 2021

Turkey's trade deficit narrowed to $4.2 billion in August 2025, compared to $5.0 billion in the same month the previous year, according to preliminary data from the Trade Ministry. This represents the smallest trade gap since October 2021, owing to a slower decline in exports compared to imports. Exports experienced a slight reduction of 0.9% year-on-year, totaling $21.8 billion. Specifically, exports of intermediate goods declined by 3.4% and consumer goods by 4.3%, though capital goods showed a significant increase of 11.2%. Germany maintained its position as the leading export destination, accounting for 8.1% of total exports, followed by the United States at 5.9%, where Turkish exports are currently subjected to 15% tariffs, and the United Kingdom at 5.3%.

On the imports side, there was a reduction of 3.9%, bringing the total to $26.0 billion. The decrease was primarily driven by reduced purchases of intermediate goods, down 5.8%, and consumer goods, down 3.4%. However, imports of capital goods rose by 2.9%. China secured its position as the largest supplier to Turkey, comprising 15.0% of imports, with Russia at 12.7% and Germany at 8.7%.

From January to August, there was an increase in exports by 4.3%, reaching $178.1 billion, while imports grew by 5.6% to $238.2 billion, which expanded the trade deficit to $60.1 billion from $54.8 billion over the same period the previous year.