Türkiye’s Foreign Trade: Exports Up, Deficit Continues to Rise

Turkish exports amounted to $23.9 billion in October, up 2% on a yearly basis, according to data from the Turkish Statistical Institute (TurkStat) on Thursday.

The country's imports also increased 7.2% to $31.52 billion in October, resulting in a trade deficit of $7.58 billion, up 27.6%, The Caspian Post reports, citing Turkish media.

Excluding energy and non-monetary gold, the foreign trade balance posted a deficit of $1 billion in October, the data showed.

In October, the ratios of the manufacturing industries products sector, agriculture, forestry and fishing sector, and the mining and quarrying sector in total exports were 94.4%, 3.3%, and 1.6%, respectively.

High-tech's share in the manufacturing side was at 3.4%, and medium-high tech's share was at 40.9% in October.

The top destination country for Turkish exports was Germany with $2 billion, followed by the UK with $1.42 billion and the US with $1.41 billion.

China was the top source of imports to Türkiye with $3.97 billion, followed by Russia with $3.7 billion and Germany with $2.3 billion.

In January-October, the country's exports totaled $224.4 billion, up 3.9% year-on-year, and imports were at $299.1 billion, up 6.1%.

The foreign trade deficit in the 10-month period was $74.68 billion, up 13.3% compared to the same period of 2024.