Türkiye’s exports rose 2.9% year-on-year to $25.62 billion in July 2026, while imports increased 5.1% to $32.97 billion, the Turkish Statistical Institute (TurkStat) said in a statement on Friday.

The faster increase in imports pushed the foreign trade deficit up 13.6% to $7.34 billion, while the export-to-import coverage ratio fell to 77.7% from 79.4% a year earlier.

During January-July, exports increased 3.4% to $161.54 billion, while imports rose 4.7% to $222.09 billion. The foreign trade deficit widened 8.3% to $60.55 billion, with exports covering 72.7% of imports.

Excluding energy products and non-monetary gold, July exports reached $23.79 billion, up 3.1%, while imports rose 3.6% to $26.19 billion. The resulting deficit was $2.41 billion.

Germany remained Türkiye’s largest export market in July, receiving $2.04 billion in Turkish goods. It was followed by the United States with $1.68 billion, the United Kingdom with $1.35 billion, Iraq with $1.11 billion and Italy with $1.11 billion.

China was Türkiye’s largest import source, supplying $5.04 billion worth of goods, followed by Russia with $3.23 billion, Germany with $2.52 billion, the United States with $1.89 billion and Italy with $1.55 billion.

Manufacturing products accounted for 94.4% of total exports in July, while intermediate goods made up 69.4% of imports.

High-technology products represented 4.4% of manufacturing exports and 12.7% of manufacturing imports during the month.

Under the special trade system, July exports rose 2.4% to $23.16 billion and imports increased 3.5% to $30.40 billion, resulting in a $7.24 billion trade deficit. (ILKHA)