Turkey Balance of Trade  1957-2016 | Data | Chart | Calendar | Forecast

Turkey's trade deficit increased to $4.16 billion in October of 2016, compared to a $3.67 billion gap a year earlier, as exports decreased by a 3 percent to $12.841 billion and imports increased by 0.5 percent to $17.004 billion. Exports declined led by manufacturing (-2.97 percent) and agriculture and forestry (-10.22 percent), while imports rose boosted by capital goods (+5 percent) and consumption goods (+3.17 percent). Balance of Trade in Turkey averaged -1565.95 USD Million from 1957 until 2016, reaching an all time high of 24.51 USD Million in December of 1971 and a record low of -10453.06 USD Million in September of 2011.

Turkey Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-30 07:00 AM Aug $-4.69B $ -4.79B $ -4.5B
2016-10-31 08:00 AM Sep $-4.36B $-4.69B $ -4.2B
2016-11-30 07:00 AM Oct $-4.16B $-4.36B $ -5.1B
2016-12-30 07:00 AM Nov $-4.16B $ -5.8B
2017-01-30 08:00 AM Dec $ -4.5B
2017-02-28 08:00 AM Jan $ -4.5B




Turkish Trade Deficit Widens in October


Turkey's trade deficit increased to $4.16 billion in October of 2016, compared to a $3.67 billion gap a year earlier, as exports decreased 3 percent to $12.841 billion and imports went up 0.5 percent.

Year-on-year, exports decreased to $12.841 billion, mainly driven by manufacturing (-2.97 percent) and agriculture and forestry (-10.22 percent). Among manufacturing, medium-low-technology products accounted for 27.7 percent and decreased 2.33 percent; high-technology products accounted for 3.7 percent and fell 12.5 percent; and low-technology product accounted for 35.5 percent drop by 5.61 percent. While medium-high-technology products represented 33.1 percent rose 0.66 percent.
 
Meanwhile, shipments of agriculture, hunting and forestry fell 10.22 percent, while increased for fisheries (+14.29 percent) and mining and quarrying (+14.60 percent). Germany was the main export partner (10.19 percent share), followed by the United Kingdom (8.17 percent)), Italy (6.61 percent) and Iraq (6.03 percent).
 
Imports increased 0.5 percent percent to USD 17.004 billion, mainly due to a 4.09 percent rise in purchases of manufacturing. China was the main import partner (13.02 percent share), followed by Germany (10.33 percent), Russia (7.08 percent), and Italy (5 percent).
 
On a seasonally adjusted basis, exports increased by 2.5 percent from the previous month while imports decreased by 1.7 percent.
 
 

Turkish Statistical Institute l Chusnul Ch Manan | chusnul@tradingeconomics.com
11/30/2016 5:29:57 PM



Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -4160.00 -4361.64 24.51 -10453.06 USD Million [+]
Exports 10934.86 11867.06 14680.11 7.10 USD Million [+]
Imports 15296.49 16553.82 23245.30 15.00 USD Million [+]
Current Account -1684.00 -1776.00 1132.00 -9460.00 USD Million [+]
Current Account to GDP -4.50 -5.40 2.00 -9.60 percent [+]
External Debt 421434.00 411502.00 421434.00 43911.00 USD Million [+]
Terms of Trade 112.72 112.96 147.63 93.96 Index Points [+]
Capital Flows 1648.00 -214.00 9188.00 -5630.00 USD Million [+]
Foreign Direct Investment 16800.00 12749.00 22046.00 1800.00 USD Million [+]
Remittances 57.00 55.00 574.00 37.00 USD Million [+]
Tourism Revenues 2788.00 3098.00 4947.00 79.00 USD Million [+]
Tourist Arrivals 2449948.00 2855397.00 5480502.00 213998.00 [+]
Gold Reserves 442.13 474.39 529.10 116.10 Tonnes [+]
Terrorism Index 6.74 5.74 6.74 4.62 [+]
Weapons Sales 291.00 179.00 291.00 3.00 USD Million [+]
Crude Oil Production 49.00 49.00 72.40 38.00 BBL/D/1K [+]



Turkey Balance of Trade Notes

Turkey major exports are: textiles and clothing, automotive, iron and steel, white goods and chemicals, pharmaceuticals and ships. Turkey imports mainly machinery, chemicals, semi-finished goods, fuels and transport equipment. Its main trading partners are: European Union (57% exports, 40% imports), Russia and The United States. This page provides the latest reported value for - Turkey Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Balance of Trade - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-4160.00 -4361.64 24.51 -10453.06 1957 - 2016 USD Million Monthly



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Ireland 3769800.00 Sep/16
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Italy 3669.89 Sep/16
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Jordan -536755.50 Sep/16
Kazakhstan 1044.90 Sep/16
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Kosovo -214200.00 Oct/16
Kuwait 1222.30 Jun/16
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Laos -594.89 Dec/15
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Liechtenstein 327117.00 Sep/16
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Macau -5326200.00 Oct/16
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Madagascar -234693.00 Sep/16
Malawi -53950.00 Mar/16
Malaysia 9756.67 Oct/16
Maldives -155.00 Aug/16
Mali -226.10 Sep/15
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Mexico -900.00 Oct/16
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Mongolia 72.90 Oct/16
Montenegro -138195.00 Oct/16
Morocco -12712.00 Sep/16
Mozambique -434.30 Sep/16
Myanmar -198.70 Feb/16
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Netherlands 5421.00 Sep/16
New Caledonia -12812.00 Aug/16
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Niger -132100.00 Jun/16
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North Korea -476.67 Dec/15
Norway 10360.56 Oct/16
Oman 30.50 Jun/16
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Palestine -339.90 Sep/16
Panama -893332.80 Sep/16
Papua New Guinea 4636.00 Mar/16
Paraguay -176241.00 Oct/16
Peru 274.70 Oct/16
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Poland -200.00 Sep/16
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Russia 7383.00 Sep/16
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