Turkey Balance of Trade 1957-2015 | Data | Chart | Calendar | Forecast

Turkey recorded a trade deficit of 8316.49 USD Million in November of 2014. Balance of Trade in Turkey averaged -1450.88 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
-8316.49 -6273.41 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, January 27, 2015.


Turkey Trade Deficit Widens in November


Turkey trade gap increased 15.43 percent to USD 8.32 billion in November of 2014 from a USD 7.21 billion shortfall a year earlier, due to a fall in exports.

Exports fell 7.5 percent year-on-year to USD 13.13 billion. Sales to the European Union decreased by 8.3 percent to USD 5.74 billion. Germany was the main sales partner (USD 1.26 billion), followed by Iraq (USD 0.94 billion), the United Kingdom (USD 0.84 billion) and Italy (0.64 billion). 

91.9 percent of total shipments were manufactured products. Sales of high technology goods, which accounts for 3.9 percent of total manufacturing exports, registered the only increase (+0.43 percent). Medium-high-tech exports, accounting for 31.1 percent, fell the most (-11.94 percent), followed by medium-low-tech sales (-11.2 percent) and low technology (-1.8 percent, with a 38.8 percent share).

Imports rose slightly by 0.2 percent year-on-year to UDS 21.45 billion. In November of 2014, the top countries for Turkey’s imports were Russia (USD 2.5 billion), China (USD 2.29 billion) Germany (USD 1.9) and Switzerland (USD 1.68 billion).

Seasonally and calendar adjusted exports decreased by 3.3 percent while imports increased by 10 percent compared with previous month.

Considering the first eleven months of 2014, exports rose 4.2 percent and imports shrank 3.5 percent year-on-year. As a result, Turkish trade gap narrowed 15.5 percent to USD 76 billion.

Turkstat | Carolina Cunha | carolina.cunha@tradingeconomics.com
12/31/2014 10:23:29 AM


Recent Releases

Turkey Trade Deficit Narrows in October
Turkish trade gap decreased to USD 6.25 billion in October of 2014 from a USD 7.42 billion shortfall a year earlier, driven by higher exports. Published on 2014-11-28

Turkey Trade Deficit Narrows on Falling Imports
Turkish trade gap decreased to USD 6.93 billion in September of 2014 from a USD 7.5 billion shortfall a year earlier. Exports recorded the highest annual increase since April while imports shrank marginally. Published on 2014-10-31


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-31 08:00 AM
Balance of Trade  Sep
$ -6.93B $ -8.04B $ -7.0B $ -7.7B
2014-11-28 08:00 AM
Balance of Trade  Oct
$ -6.25B $ -6.93B $ -6.55B $ -7.5B
2014-12-31 08:00 AM
Balance of Trade  Nov
$ -8.3B $ -6.25B $ -7.8B $ -7B
2015-01-30 08:00 AM
Balance of Trade  Dec
$ -8.3B $ -8.5B $ -7.8B
2015-02-27 08:00 AM
Balance of Trade  Jan
$ -8B
2015-03-27 08:00 AM
Balance of Trade  Feb
$ -8B


Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -8316.49 -6273.41 24.51 -10453.06 USD Million [+]
Exports 13131.52 12910.94 14747.50 7.10 USD Million [+]
Imports 21448.01 19184.36 23245.30 15.00 USD Million [+]
Current Account -5636.00 -2035.00 1132.00 -9460.00 USD Million [+]
Current Account to GDP -7.90 -6.00 2.00 -9.70 percent [+]
External Debt 396800.00 401981.00 401981.00 43911.00 USD Million [+]
Terms of Trade 101.07 100.89 147.63 93.96 Index Points [+]
Foreign Direct Investment 12387.00 15904.00 22046.00 1800.00 USD Million [+]
Remittances 64.00 73.00 574.00 43.00 USD Million [+]
Tourist Arrivals 1580041.00 1729803.00 5296323.00 213998.00 [+]
Gold Reserves 523.73 512.93 523.73 116.10 Tonnes [+]
Crude Oil Production 48.00 49.00 72.40 38.00 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -925.00 Nov/14 -877.00 2219.00 -3897.00 AUD Million [+]
Brazil 293.00 Dec/14 -2350.52 5659.37 -4058.14 USD Million [+]
Canada -644.30 Nov/14 -327.00 8524.80 -2902.90 CAD Million [+]
China 496.13 Dec/14 544.76 544.76 -319.71 USD Hundred Million [+]
Euro Area 19954.00 Nov/14 23646.00 23646.00 -16638.00 EUR Million [+]
France -3236.00 Nov/14 -4270.00 2674.00 -7086.00 EUR Million [+]
Germany 17883.46 Nov/14 22100.00 23400.00 -535.91 EUR Million [+]
India -9430.00 Dec/14 -16861.10 258.90 -20210.90 USD Million [+]
Indonesia -425.70 Nov/14 20.00 4641.92 -2329.13 USD Million [+]
Italy 3541.23 Nov/14 5396.00 6923.00 -6389.30 EUR Million [+]
Japan -660.70 Dec/14 -893.52 1608.67 -2795.04 JPY Billion [+]
Mexico 254.00 Dec/14 -1076.36 1710.25 -3292.30 USD Million [+]
Netherlands 4531.00 Nov/14 4849.00 4948.70 -907.60 EUR Million [+]
Russia 13359.00 Nov/14 14222.00 20356.00 -185.00 USD Million [+]
South Korea 5780.00 Dec/14 5510.00 7380.00 -4043.45 USD Million [+]
Spain -1555245.00 Nov/14 -2240060.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3868.33 Nov/14 3226.00 3901.00 -1478.68 CHF million [+]
Turkey -8316.49 Nov/14 -6273.41 24.51 -10453.06 USD Million [+]
United Kingdom -1406.00 Nov/14 -2246.00 2946.00 -5397.00 GBP Million [+]
United States -39001.00 Nov/14 -42249.00 1946.00 -67823.00 USD Million [+]