Türkiye’s Exports Rise 5.8% in January, Totaling $21.16 Billion

Türkiye’s exports grew 5.8% year-on-year in January, reaching $21.16 billion, according to data from the Trade Ministry.

Top Export Markets

  • Germany remained Türkiye’s largest export destination, with shipments totaling $1.78 billion.
  • The U.S. followed with $1.4 billion, while the U.K. ranked third at $1.2 billion.
  • The UAE ($1.07 billion) and Iraq ($980 million) also emerged as key markets.

Leading Export Sectors

The automotive industry led the way, generating $2.5 billion in exports, making it the top contributor to Türkiye’s overseas trade.

Import Trends and Key Partners

Türkiye’s total imports for January were led by Russia, with $4.2 billion worth of goods entering the country.

  • China followed closely with $4.08 billion in exports to Türkiye.
  • The U.S. supplied $1.3 billion worth of goods.

Changes in Import Composition

  • Intermediate goods imports rose 9.5% annually to $20.8 billion.
  • Consumer goods imports dropped sharply, plunging 28% to $4.23 billion.
  • Capital goods imports declined slightly, down 2.3% to $3.6 billion.

Trade Deficit and Coverage Ratio

  • The export-to-import coverage ratio declined by 3 points to 73.4%.
  • When excluding energy and gold trade, the coverage ratio stood at 93.2%, down from 99.6% in January 2024.

Annual Trade Figures

For the 12-month period from February 2024 to January 2025:

  • Total exports exceeded $263 billion.
  • Imports amounted to $347 billion.
  • The foreign trade deficit stood at $83.66 billion.

These figures indicate Türkiye’s growing export performance despite global trade challenges, while the rising import bill continues to impact the trade balance.