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Türkiye’s Trade Deficit Rises to $41.2B in First Five Months of 2025

foreign trade

According to the latest data from the Turkish Statistical Institute (TÜİK), Türkiye’s foreign trade deficit expanded to $41.26 billion between January and May 2025, reflecting a 12.7% increase compared to the same period last year. The export-to-import coverage ratio fell to 72.9%, down from 74.5% a year ago.

May 2025: Trade Deficit Up 2.7% YoY

In May alone, Türkiye recorded a $6.65 billion trade deficit, up 2.7% year-over-year, as exports rose 2.6% to $24.82 billion, while imports increased 2.7% to $31.46 billion. The export coverage ratio remained steady at 78.9%, identical to May 2024.

First Five Months: Export Growth Slower Than Import Surge

Between January and May, Türkiye’s exports rose 3.4% year-over-year to $110.9 billion, while imports jumped 5.8% to $152.16 billion. The data was compiled under the general trade system, in cooperation with the Ministry of Trade.

Energy and Gold-Excluded Trade Gap at $1.89 Billion

Excluding energy and non-monetary gold, May exports climbed 5% to $23.2 billion, and imports rose 4.3% to $25.1 billion, resulting in a narrower trade deficit of $1.89 billion for that segment. The export-to-import ratio excluding these items improved to 92.5%.

Manufacturing Dominates Export Sector

In May 2025:

  • Manufacturing accounted for 95% of exports

  • Agriculture, forestry & fisheries: 3%

  • Mining & quarrying: 1.4%

Between January–May:

  • Manufacturing: 94.1%

  • Agriculture-related exports: 3.7%

  • Mining sector: 1.6%

Intermediate Goods Drive Imports

In May 2025:

  • Intermediate goods made up 67.6% of imports

  • Capital goods: 14.6%

  • Consumer goods: 17.7%

Between January–May:

  • Intermediate goods share rose to 70%

  • Capital goods: 13.7%

  • Consumer goods: 16%

Top Trading Partners: Germany Leads in Exports, China in Imports

May Export Leaders:

  1. Germany – $2.1B

  2. UK – $1.52B

  3. USA – $1.51B

  4. Italy – $1.22B

  5. Iraq – $1.12B
    (Top 5 made up 30.1% of total exports)

May Import Leaders:

  1. China – $4.32B

  2. Russia – $3.26B

  3. Germany – $2.69B

  4. Italy – $1.67B

  5. Switzerland – $1.52B
    (Top 5 made up 42.8% of total imports)

Seasonal Data Adjustments Show Monthly Improvement

After seasonal and calendar adjustments:

  • Exports in May rose 10.3% compared to April

  • Imports dropped 5%

Compared to May 2024:

  • Exports increased 5.3%, imports 9.2%

High-Tech Exports Still Limited

In May, high-tech products represented:

  • 4% of manufacturing exports

  • 10% of manufacturing imports

For Jan–May:

  • High-tech exports: 3.6%

  • High-tech imports: 11%

Alternative Trade Data

Under the special trade system:

  • May exports rose 3% to $22.66 billion

  • Imports rose 1.3% to $29.32 billion

  • Trade deficit: $6.66 billion (down 4.1% YoY)

  • Coverage ratio rose from 76% to 77.3%

For Jan–May:

  • Exports: $100.96B (+4%)

  • Imports: $142.66B (+5.9%)

  • Deficit: $41.70B (+10.9%)

  • Coverage ratio fell from 72.1% to 70.8%

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