2026.02.2607:21:01UTC+00Turkey Trade Deficit Widens in January

Turkey’s trade deficit widened to USD 8.4 billion in January 2026 from USD 7.5 billion a year earlier, in line with preliminary estimates from the Trade Ministry. Exports fell 4.1% year-on-year to USD 20.3 billion, driven largely by a 4.7% decline in manufacturing shipments. This weakness was partly offset by higher exports in agriculture, forestry and fishing (+2.4%), mining and quarrying (+13.1%), and other sectors (+8.7%).

Germany remained Turkey’s largest export destination, accounting for 8.8% of total exports, followed by the United Kingdom (6.3%), the United States (6.0%), Italy (5.2%), and Iraq (4.4%).

On the import side, total purchases edged up 0.1% to USD 28.7 billion. Increased imports of capital goods (+9.7%) and other goods (+195.2%) more than offset declines in imports of intermediate goods (-1.0%) and consumer goods (-5.7%). China was the leading source of imports, with a 14.9% share, followed by Russia (10.7%), Germany (6.5%), the United States (6.3%), and Switzerland (4.4%).