Türkiye's July exports hit record $25.6B, trade gap widens

Trade Minister Ömer Bolat announced on Monday that Türkiye's exports reached a record $25.6 billion in July, marking the highest July figure on record with a 2.9% year-on-year increase. Imports climbed 5.2% to nearly $33 billion during the same period, according to data released at a press conference in Ankara. The country's foreign trade volume expanded 4.1% to $58.6 billion during the month.

Deficit expansion

The export-to-import coverage ratio declined by 1.7 percentage points to 77.7%, and the trade deficit widened 14% to $7.37 billion compared with $6.46 billion in July 2025, Bolat stated. During the January-July period, exports grew 3.4% year-on-year to $161.6 billion, while imports rose 4.7% to $222.1 billion, resulting in a seven-month foreign trade deficit of $60.5 billion, up 8.2% from the previous year.

Annualized figures

Annualized exports reached an all-time high of $278.6 billion as of July, increasing 3.4% from the previous 12-month period, Bolat said. Annualized imports climbed 4.9% to $375.3 billion, while the foreign trade deficit rose 9.5% to $96.8 billion, and the annualized foreign trade volume increased 4.3% to $653.9 billion with the coverage ratio falling to 74.2% from 75.3%.