Türkiye’s 12-month exports hit record $278B, trade minister says

As of the last 12 months, we have reached $278 billion in exports for the first time, Bolat said during a press conference in Istanbul.

The country’s exports in June rose 21.9% year-on-year to $24.94 billion, marking the highest June export figure of all time, while imports increased 23.1% to $35.32 billion, according to Trade Ministry data.

Bolat added that Türkiye’s annualized goods and services exports surpassed $400 billion as of the end of June for the first time in the country’s history.

The foreign trade volume climbed 22.6% year-on-year to $60.26 billion in June, while the trade deficit widened 26.3% to $10.38 billion.

The export-to-import coverage ratio slipped 0.8 percentage points to 70.6% in June. Excluding energy, the ratio rose to 80%, while excluding both energy and gold, it stood at 83.2%.

In the January-June period, exports increased 3.6% year-on-year to $136.06 billion, while imports rose 4.6% to $189.15 billion. The foreign trade deficit widened 7.4% to $53.09 billion.

On a 12-month rolling basis, exports rose 4.1% to $277.94 billion, while imports increased 5% to $373.74 billion. The foreign trade volume reached $651.68 billion.

Germany was Türkiye’s top export destination in June with $1.97 billion, followed by the US with $1.54 billion and Italy with $1.36 billion.

China, meanwhile, was Türkiye’s largest source of imports with $5.28 billion, followed by Russia with $2.66 billion and Germany with $2.47 billion.

By country groups, the European Union was Türkiye’s largest export market with $10.74 billion and also its largest import source with $10.49 billion.

Intermediate goods led both exports and imports last month, accounting for $13.35 billion in exports and $25.22 billion in imports.

Manufacturing accounted for 93.7% of exports, or $23.36 billion, and 81.3% of imports, or $28.72 billion.

Earlier, Qazinform reported President Kassym-Jomart Tokayev had met with Kamil Süleyman Yazıcı, Chairman of Anadolu Group.