Turkey Balance of Trade 1957-2014 | Data | Chart | Calendar | Forecast

Turkey recorded a trade deficit of 8040 USD Million in August of 2014. Balance of Trade in Turkey averaged -1426.08 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 .

   
 
 

Turkey Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-8040.00 -6460.00 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. Content for - Turkey Balance of Trade - was last refreshed on Tuesday, October 21, 2014.


Turkish Trade Deficit Widens 13.5%


Turkey’s trade gap increased to USD 8.04 billion in August of 2014 from a USD 7.08 billion shortfall a year earlier. It is the highest trade deficit since December of 2013.

Exports increased 2.9 percent year-on-year to USD 11.44 billion in August of 2014. Sales to the EU-28 increased by 10 percent to USD 5.65 billion, accounting for 44.3 percent of total exports (41.4 percent in August of 2013). The main export partner was Germany, accounting for 9.94 percent of total sales, followed by the United Kingdom (6.8 percent), Iraq (5.6 percent) and the United States (4.6 percent).

In August, 93.7 percent of total shipments were manufactured products. 3.4 percent stand for high-technology products and 28.7 percent for medium-high-technology products.

Imports rose 7 percent over a year earlier to USD 19.47 billion. China was Turkey’s top import partner, standing for 11.6 percent of total purchases, followed by Russia (10.9 percent), Germany (8.9 percent) and Italy (5.1 percent).

On a seasonally and calendar adjusted basis, exports fell 10.5 percent in August over July and imports decreased by 4.3 percent.

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
9/30/2014 8:53:29 AM


Recent Releases

Turkey Trade Deficit Widens in August
In August of 2014, the Turkish trade gap increased to USD 8.04 billion from a USD 7.08 billion shortfall a year earlier, as imports grew faster than exports, and above market expectations. In July, the country posted a USD 6.46 billion trade deficit. Published on 2014-09-30

Turkey Trade Deficit Narrows 34.8% in July
In July of 2014, the Turkish trade gap decreased to USD 6.46 billion from a USD 9.90 billion shortfall a year earlier, as imports fell much faster than the increase of exports. Published on 2014-08-29


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 $ -7.85B $-7.11B $-7.7B $ -7.6B
2014-08-29 08:00 AM Turkey
Balance of Trade
Jul 2014 $-6.46B $ -7.85B $ -7.4B $ -8B
2014-09-30 08:00 AM Turkey
Balance of Trade
Aug 2014 $ -8.04B $ -6.46B $ -8.2B
2014-10-31 08:00 AM Turkey
Balance of Trade
Sep 2014 $ -8.04B $ -7.7B


Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -8040.00 -6460.00 24.51 -10453.06 USD Million [+]
Exports 11440.00 13402.83 14747.50 7.10 USD Million [+]
Imports 19480.00 19862.99 23245.30 15.00 USD Million [+]
Current Account -2770.00 -2630.00 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 100.23 99.95 147.63 93.96 Index Points [+]
Foreign Direct Investment 12387.00 15904.00 22046.00 1800.00 USD Million [+]
Remittances 82.00 84.00 574.00 43.00 USD Million [+]
Tourist Arrivals 5296323.00 5214519.00 5296323.00 213998.00 [+]
Gold Reserves 512.93 483.54 519.73 116.10 Tonnes [+]