Turkey Balance of Trade

Turkey recorded a trade deficit of 7853.06 USD Million in June of 2014. Balance of Trade in Turkey averaged -1418.52 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
-7853.06 -7146.21 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.


Turkey Trade Deficit Narrows to USD 7.85 Billion


In June of 2014, the Turkish trade gap decreased to USD 7.85 billion from a USD 8.61 billion shortfall a year earlier, due to a fall in imports.

Year-on-year, exports increased 4.2 percent to USD 12.9 billion, as sales to the European Union surged 14.7 percent. The country’s main export partner was Germany, followed by the United Kingdom, Iraq and France.

Imports fell by an annual 1.1 percent to USD 20.7 billion. The top country for Turkey’s imports was Russia, followed by China, Germany and Italy.

On a monthly basis, the trade deficit widened 9.9 percent. Seasonally and calendar adjusted exports decreased by 0.1 percent and imports fell 1.2 percent. 

Considering the frst six months of the year, the trade gap narrowed 21.9 percent to USD 39.7 billion as exports rose 6.7 percent over a year earlier while imports shrank 4.8 percent. 

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
7/25/2014 8:52:23 AM


Recent Releases

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. Published on 2014-06-30

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


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 $ -7.85B $-7.11B $-7.7B $ -7.6B
2014-08-29 08:00 AM Turkey
Balance of Trade
Jul 2014 $ -7.85B $ -7.9B


Trade Last Previous Highest Lowest Unit
Balance of Trade -7853.06 -7146.21 24.51 -10453.06 USD Million [+]
Exports 12923.24 13718.22 14747.50 7.10 USD Million [+]
Imports 20776.31 20864.44 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 4335075.00 3900096.00 4945999.00 213998.00 [+]
Gold Reserves 483.54 519.73 519.73 116.10 Tonnes [+]





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