Türkiye recorded three new export highs in August, with monthly shipments reaching $23.47 billion, eight-month exports rising to $185.01 billion and the rolling 12-month total climbing to $280.3 billion.
Exports increased 8.1 percent from a year earlier in August, while the January-August total was up 4 percent, Trade Minister Ömer Bolat said on Sept. 3.
Imports, however, grew faster than exports. They rose 10.5 percent year-on-year to $28.71 billion in August, widening the monthly trade deficit by 22.3 percent to $5.24 billion.
In the first eight months, imports increased 5.3 percent to $250.79 billion, while the trade deficit grew 9.3 percent to $65.79 billion.
Bolat said exports had maintained their momentum despite weaker global conditions. Türkiye needs an additional $1.7 billion in annualized exports to meet its 2026 goods export target of $282 billion, he added.
Automotive exports rose 2.3 percent to $2.8 billion in August, while chemicals exports increased 3.4 percent to $2.7 billion. Mining exports climbed 24.4 percent to $650.5 million and ship and yacht exports advanced 22.9 percent to $100.5 million.
Defense and aerospace exports fell 38.7 percent year-on-year to $511.4 million in August, although their eight-month total remained 16.2 percent higher at $6.3 billion.
The United States accounted for the largest increase in exports during the first eight months, with shipments rising by $1.2 billion. Exports to the European Union grew 1.8 percent to $78.1 billion, while exports to Gulf countries declined 7.2 percent to $18.7 billion.
Turkish Exporters Assembly head Mustafa Gültepe said jewelry, electrical and electronics products, and ferrous and nonferrous metals made the largest contributions to August’s increase.
Gültepe welcomed recent revisions to employment support and a 250 billion Turkish Lira financing package for manufacturers but said exporters needed further measures to regain competitiveness.
“We are awaiting the new foreign-currency conversion support arrangements to be announced in October,” he said.
