Türkiye’s trade deficit widened in June to slightly above $8 billion (TL 324.63 billion), as imports outweighed exports, despite a surge in outbound shipments, according to official data from the Turkish Statistical Institute (TurkStat) released on Thursday.
Turkish exports posted a rise of 7.9% on an annual basis to $20.51 billion in June, according to data from TurkStat. Imports also rose 15.2% year-on-year to $28.68 billion in June, resulting in a trade deficit of $8.17 billion, up 38.8%.
Excluding energy and non-monetary gold, the foreign trade deficit was $3.58 billion, according to the data.
In June, the ratios of the manufacturing industries products sector, the agriculture, forestry and fishing sector and the mining and quarrying sector in total exports were 94.8%, 2.9% and 1.7%, respectively.
High-tech’s share in the manufacturing sector was 3% and medium-high tech’s share was 41.2% in June.
The top destination countries for Turkish exports were Germany, with $1.73 billion, followed by the U.K., with $1.26 billion and the U.S., with $1.20 billion.
China was the top source of imports to Türkiye with $3.83 billion, followed by Russia with $3.31 billion and Germany with $2.7 billion.
In January-June, the country’s exports totaled $131.4 billion, representing a 4.1% increase, and imports reached $180.84 billion, a 7.2% increase.
The foreign trade deficit for the six months was $49.43 billion, up 16.3% compared to the same period in 2024.
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