Türkiye’s both exports and imports decline in May

ISTANBUL  

Türkiye’s exports fell by 9.3 percent year-on-year in May 2026 to $22.5 billion, while imports decreased by 10.7 percent to $28.1 billion, the Trade Ministry data showed on June 4.

The foreign trade deficit narrowed by 15.7 percent to $5.6 billion last month.

One of the key drivers behind the decline in both exports and imports in May was the calendar effect, as the number of working days was reduced due to holidays.

The export-to-import coverage ratio improved to 80.1 percent in May this year, compared to 78.9 percent in the same month of 2025.

Germany remained Türkiye’s top export destination in May, with shipments totaling $1.71 billion, followed by the United States at $1.53 billion and Italy at $1.16 billion. Exports to the European Union stood at $9.4 billion.

On the import side, China ranked first with $3.43 billion, followed by Russia with $2.48 billion and Germany with $2.04 billion.

In the January–May period of 2026, exports increased by 0.3 percent year-on-year to $111.2 billion, while imports rose by 1.2 percent to $153.9 billion.

Türkiye’s foreign trade deficit reached $42.7 billion in the first five months of the year, marking a 3.6 percent increase compared to the same period last year.

As of May, rolling 12-month exports amounted to $273.5 billion, while imports stood at $367 billion, bringing the annualized foreign trade deficit to $93.65 billion.