27.02.2025 12:43
In January 2025, Turkey's foreign trade deficit increased by 21.9% compared to the same month of the previous year, reaching 7 billion 538 million dollars. Exports amounted to 21 billion 165 million dollars, while imports totaled 28 billion 703 million dollars.
In January, the foreign trade deficit increased by 21.9% compared to the same month of the previous year, rising from 6 billion 185 million dollars to 7 billion 538 million dollars. According to the provisional foreign trade data produced in cooperation with the Turkish Statistical Institute (TÜİK) and the Ministry of Trade, exports in January 2025 increased by 5.8% compared to the same month of the previous year, reaching 21 billion 165 million dollars, while imports rose by 9.6% to 28 billion 703 million dollars.
IN JANUARY, EXPORTS EXCLUDING ENERGY PRODUCTS AND GOLD INCREASED BY 5.0%, IMPORTS BY 11.8%
Exports excluding energy products and non-monetary gold increased by 5.0% in January 2025, rising from 18 billion 576 million dollars to 19 billion 508 million dollars. In January, imports excluding energy products and non-monetary gold increased by 11.8%, rising from 18 billion 646 million dollars to 20 billion 845 million dollars. The foreign trade deficit excluding energy products and non-monetary gold was 1 billion 336 million dollars in January. The foreign trade volume increased by 8.4%, reaching 40 billion 353 million dollars. In that month, the ratio of exports excluding energy and gold to imports was 93.6%.
FOREIGN TRADE DEFICIT INCREASED BY 21.9% IN JANUARY
In January, the foreign trade deficit increased by 21.9% compared to the same month of the previous year, rising from 6 billion 185 million dollars to 7 billion 538 million dollars. The ratio of exports to imports was 76.4% in January 2024, while it decreased to 73.7% in January 2025.
THE SHARE OF MANUFACTURING INDUSTRY IN TOTAL EXPORTS IN JANUARY WAS 93.4%
According to economic activities, the share of the manufacturing industry in exports was 93.4% in January 2025, while the share of agriculture, forestry, and fishing was 4.5%, and the share of mining and quarrying was 1.5%.
THE SHARE OF INTERMEDIATE GOODS IN TOTAL IMPORTS IN JANUARY WAS 72.9%
According to the classification of broad economic groups in imports, the share of intermediate goods was 72.9% in January 2025, while the share of capital goods was 13.0% and the share of consumption goods was 13.9%.
THE COUNTRY WITH THE HIGHEST EXPORT IN JANUARY WAS GERMANY
In January, Germany ranked first in exports. Exports to Germany amounted to 1 billion 782 million dollars, followed by the USA with 1 billion 371 million dollars, the United Kingdom with 1 billion 280 million dollars, the United Arab Emirates with 1 billion 12 million dollars, and Iraq with 979 million dollars. Exports to the top 5 countries accounted for 30.3% of total exports.
RUSSIA FEDERATION RANKED FIRST IN IMPORTS
In imports, the Russia Federation ranked first. In January, imports from the Russia Federation amounted to 4 billion 399 million dollars, followed by China with 4 billion 86 million dollars, Germany with 1 billion 854 million dollars, the USA with 1 billion 430 million dollars, and Italy with 950 million dollars. Imports from the top 5 countries accounted for 44.3% of total imports.
EXPORTS INCREASED BY 0.4% ACCORDING TO SEASONALLY ADJUSTED SERIES
According to the seasonally adjusted series, exports increased by 0.4% in January 2025 compared to the previous month, while imports decreased by 1.0%. According to the calendar-adjusted series, exports increased by 6.0% and imports by 9.6% in January 2025 compared to the same month of the previous year.
THE SHARE OF HIGH-TECH PRODUCTS IN MANUFACTURING INDUSTRY EXPORTS WAS 3.4%
Foreign trade data by technology intensity covers manufacturing industry products classified under ISIC Rev.4. In January, the share of manufacturing industry products in total exports was 93.4%. The share of high-tech products in manufacturing industry exports was 3.4%. In January, the share of manufacturing industry products in total imports was 77.3%. The share of high-tech products in manufacturing industry imports was 12.1%.
ACCORDING TO THE SPECIAL TRADE SYSTEM, EXPORTS IN JANUARY 2025 REACHED 19 BILLION 277 MILLION DOLLARS
According to the special trade system, in January 2025, exports increased by 7.5% compared to the same month of the previous year, reaching 19 billion 277 million dollars, while imports increased by 8.6% to 26 billion 932 million dollars. In January, the foreign trade deficit increased by 11.3%, rising from 6 billion 876 million dollars to 7 billion 655 million dollars. The ratio of exports to imports was 72.3% in January 2024, while it decreased to 71.6% in January 2025.