Türkiye’s exports rise 2.9% to $25.6B in July

Türkiye’s exports increased 2.9% year-on-year to $25.62 billion in July, according to official data released Friday.

Imports rose at a faster pace of 5.1% to $32.97 billion, provisional data from the Turkish Statistical Institute (TurkStat) and the Trade Ministry showed.

The country’s foreign trade deficit consequently widened 13.6% from a year earlier to $7.34 billion.

The export-to-import coverage ratio declined to 77.7% from 79.4% in July 2025.

Excluding energy products and non-monetary gold, exports grew 3.1% to $23.79 billion, while imports advanced 3.6% to $26.19 billion.

The resulting foreign trade deficit excluding those categories stood at $2.41 billion, with the export coverage ratio at 90.8%.

On a seasonally and calendar-adjusted basis, exports increased 2.6% from June, while imports fell 7.2%.

Manufacturing products accounted for 94.4% of Türkiye’s total exports in July, followed by agriculture, forestry and fishing at 3% and mining and quarrying at 1.8%.

High-technology products made up 4.4% of manufacturing exports, up from 4.2% a year earlier. Their value rose 4.7% to nearly $1.06 billion.

Intermediate goods represented 69.4% of total imports, followed by consumer goods at 16% and capital goods at 14.5%.

Germany remained Türkiye’s largest export market in July, receiving goods worth $2.04 billion. It was followed by the US at $1.68 billion, the UK at $1.35 billion, Iraq at $1.11 billion and Italy at $1.11 billion.

China was the largest source of imports, with shipments valued at $5.04 billion, followed by Russia at $3.23 billion, Germany at $2.52 billion, the US at $1.89 billion and Italy at $1.55 billion.

In January-July, Türkiye’s exports rose 3.4% year-on-year to $161.54 billion, while imports increased 4.7% to $222.09 billion.

The seven-month trade deficit grew 8.3% to $60.55 billion, while the export-to-import coverage ratio slipped to 72.7% from 73.6%.