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Türkiye's trade gap widens 26% despite best June exports ever

by Daily Sabah with AA

ISTANBUL Jul 31, 2026 - 1:00 pm GMT+3
Ships are seen in the Çanakkale Strait, Türkiye, July 29, 2026. (AA Photo)
Ships are seen in the Çanakkale Strait, Türkiye, July 29, 2026. (AA Photo)
by Daily Sabah with AA Jul 31, 2026 1:00 pm

Türkiye's foreign trade deficit widened more than 26% last month, despite exports seeing their highest-ever June figure, official data showed Friday.

Outbound shipments jumped 21.7% year-over-year to $24.92 billion (TL 1.18 trillion) in June, the third-highest monthly export total ever, Trade Minister Ömer Bolat said.

Imports increased 23% from a year earlier to $35.29 billion, provisional figures from the Turkish Statistical Institute and the Trade Ministry showed.

The trade gap widened 26.2% year-over-year to $10.37 billion.

The export-to-import coverage ratio fell to 70.6% from 71.4% in June 2025.

Excluding energy products and non-monetary gold, exports climbed 23.2% to $23.3 billion, while imports rose 24.3% to just over $28 billion.

The energy- and gold-excluded trade deficit stood at $4.71 billion, with the export-to-import coverage ratio at 83.2%.

Manufactured products accounted for 93.7% of total exports in June, while agriculture, forestry and fishing represented 3.5% and mining and quarrying 2%.

Intermediate goods made up 71.4% of imports, followed by consumer and capital goods, each with a 14.2% share.

Germany was Türkiye's largest export market in June, receiving $1.97 billion worth of goods. It was followed by the U.S. with $1.54 billion, Italy with $1.35 billion, the U.K. with $1.26 billion and Spain with $1.12 billion.

China was the leading source of imports with $5.28 billion, followed by Russia, Germany, the U.S. and Italy.

In the first half of the year, exports increased 3.5% year-over-year to $135.98 billion, while imports rose 4.6% to $189.12 billion.

The January-June trade gap widened 7.4% to $53.14 billion.

Annualized exports rose 4.1% year-over-year to $277.9 billion as of June, up by $11 billion from $266.9 billion a year earlier, Bolat said.

Exports of medium-high- and high-technology products increased 8.4% in the first half to $56.2 billion.

Despite geopolitical tensions, protectionist measures and weak external demand, Türkiye will continue working to exceed the Medium-Term Program's export target of $282 billion, Bolat added.

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  • Last Update: Jul 31, 2026 4:00 pm
    KEYWORDS
    trade turkish economy economy türkiye trade exports imports trade deficit
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