Annualized exports hit all-time high of $265 billion in April

ISTANBUL

Türkiye’s annualized goods exports hit an all-time high of $265 billion in April, Trade Minister Ömer Bolat said on May 2.

The 12-month annualized exports climbed 2.7 percent or $7.1 billion on a yearly basis.

Imports in the last 12 months rose 0.2 percent to $351.6 billion, resulting in an annualized trade deficit of $86.6 billion, down 6.8 percent or $6.4 billion from the previous period.

Meanwhile, April's exports rose 8.5 percent year-on-year to $20.9 billion, the second-highest April export figure on record.

Imports in the month also increased by 12.9 percent, reaching $33 billion.

The goods foreign trade balance in April posted a deficit of $12 billion, up 21.7 percent year-on-year.

Bolat said that exports had been on the rise since the start of the year, except for February when exports were down $300 million.

The export/import coverage ratio declined from 66.1 percent in April 2024 to 63.5 percent last month.

Excluding energy, the coverage ratio was 70.4 percent in April, down from 73.9 percent in the same month of last year.

Germany was the largest export market for Türkiye at $1.77 billion in April, followed by the U.K. at $1.27 billion. Shipments to the U.S. and Italy were $1.15 billion and $1.08 billion, respectively.

The automotive industry was the largest exporting sector with $3.15 billion, up 14.8 percent annually. In January-April, the industry generated $12.6 billion in export revenue, up 6.5 percent from a year ago.

The defense and aerospace sector’s exports soared 54 percent year-on-year to $539 million in April, while its export revenues rose 67.3 percent to $2.23 billion.

Imports from China and Russia amounted to $4.2 billion and $3.6 billion, respectively. Türkiye bought $2.8 billion worth of goods from Germany, while imports from Switzerland were $1.78 billion.

Exports increased by 3.9 percent year-on-year in the January-April period to reach $86.3 billion, preliminary data from the Trade Ministry showed.

In the first four months of 2025, Türkiye’s imports amounted to $120.8 billion, pointing to an increase of 6.7 percent from a year ago.

Consequently, the foreign trade deficit came in at $34.5 billion in January-April, widening by 14.5 percent compared to the same period of last year.