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

Turkey recorded a trade deficit of 6925 USD Million in September of 2014. Balance of Trade in Turkey averaged -1434.01 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
-6925.00 -8040.00 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 Friday, October 31, 2014.


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.

Exports increased 4.6 percent year-on-year to USD 13.66 billion in September of 2014. Sales to the European Union rose 7.1 percent to USD 6.2 billion. 

93.5 percent of total shipments were manufactured products. Sales of low-technology goods increased the most by 12.9 percent. High-tech exports which accounted for 3.4 percent of total manufactured exports rose 7.24 percent and medium-high-tech sales grew 3.9 percent with a 32 percent share. 

Imports fell slightly by 0.21 percent year-on-year to USD 20.59 billion, 77.5 percent accounting for manufactured goods. China was the country’s main import partner in September (11.2 percent of total purchases). 

Upon seasonal and calendar adjustment, exports increased 4.8 percent while imports decreased 1 percent compared with August. 

Considering the first nine months of 2014, exports rose 5.5 percent and imports shrank 4.2 percent year-on-year. As a result, Turkish trade gap narrowed 18.8 percent to USD 61.14 billion. 

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
10/31/2014 8:40:22 AM


Recent Releases

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. Published on 2014-09-30

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


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 $ -6.93B $ -8.04B $ -7.0B $ -7.7B
2014-11-28 08:00 AM Turkey
Balance of Trade
Oct 2014 $ -6.93B $ -8B


Turkey Trade Last Previous Highest Lowest Unit
Balance of Trade -6925.00 -8040.00 24.51 -10453.06 USD Million [+]
Exports 13660.00 11440.00 14747.50 7.10 USD Million [+]
Imports 20585.00 19480.00 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 401706.00 386786.00 401706.00 43911.00 USD Million [+]
Terms of Trade 99.90 101.35 147.63 93.96 Index Points [+]
Foreign Direct Investment 12387.00 15904.00 22046.00 1800.00 USD Million [+]
Remittances 85.00 85.00 574.00 43.00 USD Million [+]
Tourist Arrivals 4352429.00 5296323.00 5296323.00 213998.00 [+]
Gold Reserves 512.93 483.54 519.73 116.10 Tonnes [+]