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.