June trade data show imports outpacing exports, pushing Turkey’s deficit to 6% of GDP and signaling persistent external vulnerabilities.
Turkey’s trade deficit expanded 26.2% year-on-year in June to USD 10.4bn, driven by stronger import growth relative to exports. Exports rose 21.7% to USD 24.9bn, while imports climbed 23.0% to USD 35.3bn, reversing May’s holiday distortions but masking underlying imbalances.
Seasonally adjusted data show both exports and imports rebounded from May’s dip, yet imports—particularly intermediate and capital goods—continued to outpace exports. The deficit remains near 6% of GDP, underscoring ongoing balance of payments pressures.
Import composition highlights demand for production inputs, with intermediate goods up 30.0% and capital goods rising 19.6%, while consumer goods imports fell 1.2%. The trend suggests persistent external financing risks despite surface-level trade recovery.