Türkiye's foreign trade deficit in May was USD 6.65 billion

Exports and imports increased

According to the provisional foreign trade data released by the Turkish Statistical Institute (TÜİK) and the Ministry of Trade within the scope of the general trade system, exports increased by 2.6% y/y to USD 24 billion 817 million in May, while imports increased by 2.7% to USD 31 billion 462 million.

Foreign trade deficit increased by 12.7% in the first 5 months of the year

In the January-May period of 2025, exports increased by 3.4% compared to the same period last year and reached USD 110 billion 904 million, while imports increased by 5.8% to USD 152 billion 160 million. In this period, the foreign trade deficit increased by 12.7% to USD 41 billion 257 million. The ratio of exports to imports, which was 74.5% in the same period last year, decreased to 72.9% this year.

Foreign trade balance excluding energy and gold

In May, excluding energy products and non-monetary gold, exports increased by 5 % to USD 23 billion 197 million and imports increased by 4.3 % to USD 25 billion 90 million. While the foreign trade deficit excluding these items was recorded as USD 1 billion 893 million, foreign trade volume increased by 4.7% to USD 48 billion 287 million. In the same month, the ratio of exports to imports excluding energy and gold was 92.5%.

Manufacturing industry is the leader in exports

Manufacturing industry accounted for 95% of exports in May, while agriculture, forestry and fishing accounted for 3% and mining and quarrying for 1.4%. In the January-May period, a similar distribution was observed: manufacturing industry maintained its weight with 94.1%, while agriculture and mining had a share of 3.7% and 1.6%, respectively.

Germany was the country with the highest exports

In May, Türkiye's top export destination was Germany with USD 2 billion 96 million. Germany was followed by the United Kingdom (USD 1 billion 523 million), the USA (USD 1 billion 511 million), Italy (USD 1 billion 221 million) and Iraq (USD 1 billion 119 million). Exports to these five countries accounted for 30.1% of total exports.