Turkey's July exports rise 2.9% to $25.6 billion, trade deficit widens
This digest was compiled by AI from multiple sources — links to the originals are below.
Turkey's exports rose 2.9% year-on-year to $25.623 billion in July 2026, while imports climbed 5.1% to $32.966 billion. The trade deficit widened 13.6% to $7.343 billion, and the export-to-import coverage ratio fell to 77.7%.
Key Facts
- Turkey's July exports reached $25.623 billion, up 2.9% from a year earlier, while imports rose 5.1% to $32.966 billion.
- The July trade deficit widened 13.6% to $7.343 billion, and the export-to-import coverage ratio declined to 77.7%.
- In January-July 2026, Turkey's exports totaled $161.539 billion and imports $222.085 billion, leaving a trade deficit of $60.545 billion.
- Germany was Turkey's top export market in July with $2.042 billion, followed by the US with $1.683 billion.
- Energy imports in July rose 13.1% year-on-year to $5.826 billion, including crude oil imports of 2.932 million tonnes.
July Trade Performance
Turkey's exports rose 2.9% year-on-year to $25.623 billion in July 2026, according to provisional data from the Turkish Statistical Institute (TÜİK) and the Ministry of Trade. Imports increased 5.1% to $32.966 billion, resulting in a trade deficit of $7.343 billion, up 13.6% from July 2025. The export-to-import coverage ratio fell to 77.7% from 79.4% a year earlier. Excluding energy products and non-monetary gold, exports rose 3.1% to $23.788 billion and imports rose 3.6% to $26.194 billion. The trade deficit excluding energy and gold stood at $2.407 billion, with a coverage ratio of 90.8%.
Sectoral Composition
Manufacturing accounted for 94.4% of total exports in July, followed by agriculture, forestry and fishing at 3.0% and mining and quarrying at 1.8%. In January-July, manufacturing's share of exports was 93.9%, agriculture 3.6%, and mining 1.8%. Intermediate goods made up 69.4% of imports in July, with capital goods at 14.5% and consumer goods at 16.0%. For the January-July period, intermediate goods accounted for 71.2% of imports, capital goods 14.0%, and consumer goods 14.4%.
Top Trading Partners
Germany was Turkey's largest export destination in July with $2.042 billion, followed by the US at $1.683 billion, the UK at $1.349 billion, Iraq at $1.113 billion, and Italy at $1.110 billion. The top five countries accounted for 28.5% of total exports in July. In January-July, Germany remained the top market with $13.286 billion, followed by the US at $10.164 billion, the UK at $9.429 billion, Italy at $8.347 billion, and France at $6.638 billion. The top five countries represented 29.6% of total exports in the first seven months.
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Turkey's July exports rise 2.9% to $25.6 billion, trade deficit widens
