Turkey Balance of Trade

Turkey recorded a trade deficit of 5099.79 USD Million in February of 2014. Balance of Trade in Turkey is reported by the Turkish Statistical Institute . Balance of Trade in Turkey averaged -1382.78 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. 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. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-5099.79 -6849.60 24.51 -10453.06 -6358.72 | 2014/03 1957 - 2014 USD Million Monthly

TO

Turkey Balance of Trade
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-12-31 08:00 AM Turkey
Balance of Trade
Nov 2013 $ -7.15B $ -7.38B $ -7.7B
2014-01-31 08:00 AM Turkey
Balance of Trade
Dec 2013 $ -9.9B $ -7.15B $ -7.9B $ -7.4B
2014-02-28 08:00 AM Turkey
Balance of Trade
Jan 2014 $ -6.80B $ -9.917B $ -7.30B $ -7.4B
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 $ -5.1B $ -6.4B
2014-05-30 08:00 AM Turkey
Balance of Trade
Apr 2014 $ -6.6B
[+]

Trade Last Previous Highest Lowest Forecast Unit
Current Account -3191.00 2014-02-15 -4930.00 1132.00 -9518.00 -3644.42 2014-03-31 USD Million [+]
Current Account to GDP -6.10 2012-12-31 -9.70 2.00 -9.70 -6.17 2013-12-31 Percent [+]
External Debt 388243.00 2013-12-31 372652.00 388243.00 43911.00 398334.40 2014-03-31 USD Million [+]
Foreign Direct Investment 12387.00 2012-12-31 15904.00 22046.00 1800.00 10110.49 2013-12-31 USD Million [+]
Remittances 60.00 2014-02-15 72.00 574.00 43.00 55.10 2014-02-28 USD Million [+]
Terms of Trade 98.78 2014-02-15 100.55 147.63 93.96 99.61 2014-02-28 Index Points [+]
Tourist Arrivals 1352184.00 2014-02-15 1146815.00 4945999.00 213998.00 1909918.04 2014-03-31 [+]
Balance of Trade -5099.79 2014-02-15 -6849.60 24.51 -10453.06 -6358.72 2014-03-31 USD Million [+]
Exports 13150.45 2014-02-15 12442.45 14198.49 7.10 13426.31 2014-03-31 USD Million [+]
Imports 18250.25 2014-02-15 19292.05 23245.30 15.00 18729.02 2014-03-31 USD Million [+]
[+]


Turkey’ Trade Deficit Narrows To Lowest in Nearly 3-1/2 Years

The trade deficit decreased in February of 2014 to USD -5.1 billion from USD -7.0 billion a year earlier and USD -6.9 billion in January of 2014. Compared with February of 2013, manufacturing exports climbed while imports of agriculture and manufactured goods decreased.

Exports amounted to USD 13.2 billion in February of 2014 (6.2 percent increase yoy) and imports were recorded at USD 18.3 billion (a 5.9 percent decrease). 

Sales to the EU-28 increased by 7.5 percent yoy, from USD 5.1 billion to USD 5.5 billion, accounting for 41.6 percent of total exports. 

The main export partner was Germany with USD 1.2 billion (an increase of 8.4 percent yoy), followed by Iraq (+20.6 percent) and United Kingdom (+7.5 percent). The top country for Turkey’s imports was Russia (+1.4 percent), followed by China (+5.4 percent), Germany (-8.2 percent) and USA (+4.1 percent).

The ratio of exports of high-technology products in manufacturing industries was 3.1 percent, while the ratio of imports of high-technology products in manufacturing industries was 13 percent. 

Turkstat | Isabel Felino | isabel.felino@tradingeconomics.com
3/31/2014 1:12:55 PM

RECENT RELEASES

Turkish Trade Deficit Narrows in January
Turkey’s trade deficit decreased in January of 2014, to USD -6.8 billion from USD -7.3 billion a year earlier and USD 9.9 billion in December of 2013. Exports to the European Union increased by 13.7 percent with Germany as the main exports’ partner and Russia as the top country for imports. Published on 2014-02-28

Turkish Trade Deficit Widens 18.7% in 2013
In December of 2013, Turkish trade deficit widened to USD 9.92 billion as exports fell 7 percent over the previous month, hurt by a weakening lira. Full 2013 trade deficit widened 18.7 percent over 2012 and reached USD 99.78 billion. Published on 2014-01-31


Balance of Trade | Notes
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and occurs when value of exports is higher than that of imports; a negative balance of trade is known as a trade deficit or a trade gap.


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