Foreign trade deficit decreased by 0.5 percent in March

Türkiye's foreign trade deficit decreased by 0.5 percent to 7.3 billion dollars in March 2025 compared to the same period last year, according to data from the Ministry of Trade. In the same period, exports increased by 3.2 percent to 23.4 billion dollars, the second highest march exports in history.

Trade Minister Ömer Bolat stated at a press conference with Türkiye Exporters Assembly (TIM) President Mustafa Gültepe, “We achieved this success thanks to our exporters, despite the loss of two calendar days.” This figure in march was the 5th highest export value in the history of the Republic on a monthly basis.

Annualized Exports 263.4 Billion Dollars 

Bolat stated that the total exports of goods realized in the last 12 months reached 263.4 billion dollars and increased by 2.1 percent on an annual basis. He added, “On March 28, we reached the second highest level in history with daily exports of 2 billion 65 million dollars. We missed the record by 35 million dollars.”

Imports increased by 2.3 percent to $30.7 billion in March. The increase was attributed to rising energy imports due to the rise in global natural gas prices. Excluding gold and energy, the rate of increase in imports was only 0.9 percent.

US Visit on the Agenda 

Bolat said that the additional 10 percent US tariffs imposed on Türkiye will also be on the agenda during a visit to the US in mid-May. Bolat added, ”During this visit, we plan to take important steps to improve our trade relations and increase our exports. We have completed our preparations," 

Positive Signals in Employment and Inflation

Minister Bolat also shared recent data on Türkiye's economic performance. He stated that Türkiye, which recorded 3.2 percent growth in 2024, has moved into the upper income group according to World Bank criteria. According to February employment data, the unemployment rate decreased to 8.2 percent, the lowest level in the last 10 years. Inflation, on the other hand, declined to 38.1 percent in March. Bolat stated that they expect the decline in inflation to accelerate in the summer months.