Türkiye's exports increased 2.9% year-on-year to $25.6 billion in July, setting a new record for the highest July export value on record, according to Turkish Trade Minister Omer Bolat.

Speaking at a press conference in Istanbul, Bolat said the figure also represented the second-highest monthly export total recorded in the 103-year history of the Republic of Türkiye, The Caspian Post reports, citing Anadolu Agency.

Imports rose 5.2% compared with the same month last year to nearly $33 billion, while the country's total foreign trade volume grew 4.1% to reach $58.6 billion.

The foreign trade deficit expanded by 14% to $7.37 billion, up from $6.46 billion in July 2025.

Türkiye's export-to-import coverage ratio fell by 1.7 percentage points to 77.7%.

When energy and gold trade are excluded, the export-to-import coverage ratio stood at 90.8% in July.

During the January-July period, exports climbed 3.4% year-on-year to $161.6 billion, while imports increased 4.7% to $222.1 billion.

Over the same seven-month period, the foreign trade deficit widened 8.2% to $60.5 billion, and the country's total trade volume rose 4.1% to $383.7 billion.

The export-to-import coverage ratio for the January-July period was 72.8%, down from 73.6% in the corresponding period of last year.

Bolat said annualized exports reached a record high of $278.6 billion as of July, representing a 3.4% increase compared with the previous 12-month period.

Annualized imports rose 5% to $375.3 billion, while the annualized foreign trade deficit increased 7.4% to $96.8 billion.

The country's annualized foreign trade volume climbed 4.3% to $653.9 billion, while the export-to-import coverage ratio declined from 75.3% to 74.2%.

Germany remained Türkiye's largest export market in July, importing $2 billion worth of Turkish goods. It was followed by the United States with $1.7 billion and the United Kingdom with $1.3 billion.

By broad economic category, exports of intermediate goods reached $13.3 billion, consumer goods exports totaled $7.9 billion, and capital goods exports amounted to $3.7 billion.

The manufacturing sector accounted for $24.2 billion of total exports, while agriculture, forestry and fisheries contributed $800 million, and mining and quarrying generated $500 million.

The 10 largest export sectors together accounted for 44.8% of Türkiye's total overseas shipments in July.