Türkiye’s trade deficit widens in January as export growth slows

ANKARA

Exports from Türkiye fell by 3.9 percent year-on-year in January due to calendar effects, amounting to $20.3 billion, while annualized exports rose 3.7 percent to $272.5 billion, Trade Minister Ömer Bolat announced on Jan. 2.

Imports edged up only slightly, increasing 0.03 percent from a year earlier to $28.7 billion, according to data from the Trade Ministry. As a result, the country’s foreign trade deficit widened by 11.2 percent to $8.35 billion last month.

In January, the export-to-import coverage ratio declined by 2.9 points compared to the same month last year, standing at 70.9 percent.

Germany was Türkiye’s largest export destination in January with $1.78 billion, followed by the United States at $1.22 billion and the United Kingdom at $1.21 billion. Among country groups, the European Union (EU-27) led with $8.77 billion in exports, followed by Near and Middle Eastern countries at $3.42 billion and other European countries at $2.9 billion.

On the import side, China topped the list with $4.28 billion, followed by Russia at $2.94 billion and the United States at $2.87 billion.

According to data from the Turkish Statistical Institute (TÜİK), Türkiye’s exports in 2025 increased 4.4 percent from the previous year to $273.4 billion, while imports grew 6.2 percent to $365.4 billion. The government’s medium-term program sets the country’s export target for 2026 at $282 billion.