Turkey Balance of Trade

Turkey recorded a trade deficit of 7108.36 USD Million in May of 2014. Balance of Trade in Turkey averaged -1408.06 USD Million from 1957 until 2014, 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. Balance of Trade in Turkey is reported by the Turkish Statistical Institute .

   
 
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Turkey Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-7108.36 -7213.51 24.51 -10453.06 1957 - 2014 USD Million Monthly
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 - Turkey Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.


Turkish Trade Deficit Narrows in May


Turkey’s trade gap decreased for the fifth straight month by 28.7 percent year-on-year to USD 7.1 billion in May of 2014, driven by a fall in imports.

Exports increased 3.6 percent year-on-year to USD 13.75 billion in May of 2014. Sales to the European Union increased by 16 percent to USD 6 billion. The main export partner was Germany (accounting for USD 1.37 billion), followed by Iraq (USD 1.05 billion), the United Kingdom (USD 818 million) and Italy (USD 635 million).

Imports fell 10.3 percent on the year to USD 20.8 billion. China was the country’s main import partner (accounting for USD 2.11 billion), followed by Germany (USD 2 billion), and the United States (USD 1.15 billion). 

The ratio of high-technology products in manufacturing industries was 3.3 percent. The ratio of medium-high-technology products in manufacturing industries was 33.4 percent.

On a seasonally and calendar adjusted basis, exports increased 0.3 percent and imports rose 2.9 percent in May compared with previous month. 

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
6/30/2014 9:55:31 AM


Recent Releases

Turkey Trade Deficit Narrows 30.3% in April
Turkish trade gap shrank to USD 7.2 billion in April of 2014 from USD 10.4 billion a year earlier, as exports rose 7.9 percent and imports fell 9.5 percent. Published on 2014-05-30

Turkish Trade Deficit Stable in March
In March, Turkey's trade gap was slightly up to $5.20 billion from $5.16 billion in February and narrowed from $7.44 billion in the same month of 2013. Exports increased by 12.4 percent yoy while imports fell 3.2 percent yoy. Published on 2014-04-30


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-03-31 08:00 AM Turkey
Balance of Trade
Feb 2014 $ -5.1B $ -6.85B (R) $ -8B
2014-04-30 08:00 AM Turkey
Balance of Trade
Mar 2014 $ -5.2B $ -5.1B $ -6.0B $ -6.4B
2014-05-30 08:00 AM Turkey
Balance of Trade
Apr 2014 $ -7.21B $ -5.2B $ -6B
2014-06-30 08:00 AM Turkey
Balance of Trade
MAY 2014 $-7.11B $ -7.21B $ -7.1B
2014-07-25 08:00 AM Turkey
Balance of Trade
Jun 2014 $-7.11B $-7.7B $ -7.6B


Trade Last Previous Highest Lowest Unit
Balance of Trade -7108.36 -7213.51 24.51 -10453.06 USD Million [+]
Exports 13750.44 13448.77 14747.50 7.10 USD Million [+]
Imports 20858.81 20662.28 23245.30 15.00 USD Million [+]
Current Account -3434.00 -4821.00 1132.00 -9460.00 USD Million [+]
Current Account to GDP -7.90 -6.00 2.00 -9.70 Percent [+]
External Debt 386786.00 388243.00 388243.00 43911.00 USD Million [+]
Terms of Trade 99.95 98.61 147.63 93.96 Index Points [+]
Foreign Direct Investment 12387.00 15904.00 22046.00 1800.00 USD Million [+]
Remittances 56.00 54.00 574.00 43.00 USD Million [+]
Tourist Arrivals 3900096.00 2652071.00 4945999.00 213998.00 [+]
Gold Reserves 483.54 519.73 519.73 116.10 Tonnes [+]





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