Türkiye’s Foreign Trade Deficit Soars to $8.2B in June

Türkiye’s foreign trade deficit rose significantly in June 2025, climbing 38.8% year-on-year to reach $8.2 billion, according to data released by the Ministry of Trade. Despite a modest uptick in exports, the faster pace of import growth—particularly in consumer goods—drove the overall trade imbalance.

In June, exports grew 8% to $20.54 billion, while imports surged by 15.3%, totaling $28.71 billion. The result was a monthly trade deficit of $8.17 billion, marking one of the highest monthly gaps in recent years.

First Half Deficit at $49.4 Billion

From January to June, Türkiye’s total exports reached $131.4 billion, a 4.1% increase compared to the same period last year. However, imports grew 7.2% to $180.9 billion, resulting in a six-month trade deficit of $49.4 billion.

On an annualized basis, the July 2024–June 2025 foreign trade deficit stood at a staggering $89.2 billion, underscoring the persistent external imbalance.

Export-Import Coverage Ratio Falls

Türkiye’s ability to finance imports through exports weakened in June, as the export-to-import coverage ratio dropped to 71.5%, compared to 76.4% in June 2024. Even when energy and gold were excluded, the ratio still fell to 84.1%, indicating that exports are falling increasingly short of offsetting import costs.

Consumer Goods Drive Import Spike

A notable trend was the 32.5% year-on-year increase in consumer goods imports, highlighting a shift toward consumption-driven demand rather than production-oriented purchases. Despite this, intermediate goods continued to dominate, accounting for $19.4 billion—the largest share of total imports.

Exports Heavily Reliant on Manufacturing

The data also showed that 94.8% of Türkiye’s exports came from the manufacturing sector, while contributions from agriculture, forestry, fishing, and mining remained minimal. A similar concentration was seen in imports, where manufactured goods made up 83.5% of the total.

This lack of diversification suggests structural constraints in Türkiye’s production and export base, potentially making the economy more vulnerable to external shocks and global supply chain disruptions.