Exports climb 2.2 percent to $22.7 billion in November

ANKARA

Türkiye's exports amounted to $22.7 billion in November, rising 2.2 percent year-on-year despite a negative calendar effect, the Turkish trade minister announced on Dec. 4.

At a news conference in Ankara, Ömer Bolat said the country also set a new record with exports reaching $270.6 billion over the last 12 months. Over the same period, imports hit $361.9 billion while the foreign trade deficit stood at $91.3 billion.

During the first 11 months of the year, the country's exports also amounted to $247.2 billion, rising 3.7 percent year-on-year. In the January-November period, the foreign trade deficit was $82.5 billion. The foreign trade deficit amounted to $82.5 billion, marking a 12.4 percent year-on-year increase.

In that 11-month period, nine months saw a rise in Türkiye's exports, Bolat explained.

Bolat noted that services exports rose by 4.7 percent in the first 11 months of 2025, adding a net $5.1 billion. As a result, the minister stated, annualized services exports reached $122.5 billion as of November 2025.

The country's imports in November increased by 2.6 percent to $30.5 billion, resulting in a foreign trade deficit of $7.8 billion last month, up 4 percent compared with November 2024.

In November 2025, Türkiye’s export-to-import coverage ratio slipped by 0.4 points year-on-year to 74.4 percent, showed the data from the Trade Ministry. Excluding energy data, the ratio fell 3.9 points to 83.8 percent, while excluding both energy and gold, it declined 2.3 points to 92.3 percent.

Germany, the United States and the United Kingdom were Türkiye’s top export destinations in November, with shipments valued at $1.86 billion, $1.51 billion and $1.32 billion, respectively.

Among country groups, the European Union (EU-27) led with $9.85 billion, followed by Near and Middle Eastern countries at $3.54 billion and other European countries at $3.46 billion.

Türkiye’s exports were dominated by intermediate goods at $10.69 billion, down 0.4 percent from a year earlier. Consumer goods followed at $8.07 billion, a 3.7 percent decline, while capital goods rose 16.2 percent to $3.26 billion.

On the import side, China was Türkiye’s largest supplier in November with $4.16 billion, trailed by Russia at $3.12 billion and Germany at $2.49 billion.

Imports were also led by intermediate goods at $20.68 billion, up 1.5 percent year-on-year, while consumer goods fell 3.6 percent to $4.97 billion and capital goods climbed 13 percent to $4.66 billion.