Türkiye’s July exports hit $25.6B, deficit widens

The Turkish Statistical Institute and the Trade Ministry on Friday reported that Türkiye's exports climbed 2.9% year-on-year to $25.62 billion in July, while imports expanded at a faster pace of 5.1% to $32.97 billion, pushing the foreign trade deficit up 13.6% to $7.34 billion.

July trade gap widens

The export-to-import coverage ratio declined to 77.7% last month from 79.4% in July 2025, provisional data showed. Excluding energy products and non-monetary gold, exports grew 3.1% to $23.79 billion, while imports advanced 3.6% to $26.19 billion, producing a deficit of $2.41 billion in that category with coverage at 90.8%. On a seasonally and calendar-adjusted basis, exports increased 2.6% from June, while imports fell 7.2%.

Manufacturing drives shipments

Manufacturing products accounted for 94.4% of Türkiye’s total exports in July, followed by agriculture, forestry and fishing at 3% and mining at 1.8%, according to the ministry. High-technology products represented 4.4% of manufacturing exports — up from 4.2% a year earlier — with their value rising 4.7% to nearly $1.06 billion. Intermediate goods made up 69.4% of total imports, while consumer goods stood at 16% and capital goods at 14.5%.

Germany leads export markets

Germany remained Türkiye’s largest export destination in July, receiving goods worth $2.04 billion, followed by the United States at $1.68 billion, the United Kingdom at $1.35 billion, and both Iraq and Italy at $1.11 billion each. China was the top source of imports with shipments valued at $5.04 billion, trailed by Russia at $3.23 billion, Germany at $2.52 billion, the US at $1.89 billion and Italy at $1.55 billion. In the first seven months of the year, Türkiye’s exports rose 3.4% year-on-year to $161.54 billion, while imports increased 4.7% to $222.09 billion, widening the trade deficit by 8.3% to $60.55 billion as the export-to-import coverage ratio slipped to 72.7% from 73.6%.