The Turkish Statistical Institute reported on March 31, 2026 that exports rose 1.5 percent to $21.049 billion in February while imports increased 5.5 percent to $30.08 billion, widening the trade deficit 15.9 percent to $9.031 billion. The data underscores challenges in Turkey’s external trade amid a slowing economy that grew 2.5 percent in the first quarter.
The Turkish Statistical Institute put January exports at $20.328 billion. That brought the cumulative export total for the first two months of 2026 to $41.36 billion, reflecting a 1.3 percent decline from the same period a year earlier. Imports for January and February rose 2.8 percent to $58.77 billion, pushing the two-month trade deficit to $17.4 billion, up 13.8 percent, according to the institute.
A Turkish Statistical Institute breakdown identified Germany as the leading export destination in February with shipments valued at $1.85 billion. China ranked first for imports, supplying $4.12 billion worth of goods. The export-to-import coverage ratio fell to 70 percent in February from 72.7 percent in the same month of 2025, the institute’s figures showed.
Turkey’s economy expanded 2.5 percent year-on-year in the first quarter of 2026, the Turkish Statistical Institute said in a June report. Household consumption advanced 4.8 percent during the period while exports of goods and services dropped 12.7 percent. The International Monetary Fund cut its 2026 GDP growth forecast for Turkey to 3.4 percent in an April update, citing weaker momentum and higher energy prices.
Macrotrends data placed Turkey’s trade balance at a surplus of $7.31 billion for 2024 following a deficit of $21.18 billion in 2023. A trade.gov.tr economic outlook report noted that the Turkish economy grew by an annual average of 5.3 percent between 2002 and 2025. Preliminary Trade Ministry figures indicated the monthly trade deficit narrowed to $5.6 billion in May 2026 from $6.6 billion a year earlier.
