FX.co ★ Turkey Trade Deficit Widens to 4-Month High

Turkey's trade deficit expanded in October 2025, reaching USD 7.6 billion, compared to USD 5.9 billion in October of the previous year, according to final estimates. This represents the most substantial trade gap since June. Imports surged by 7.2% year-on-year, totaling USD 31.5 billion, primarily due to increased acquisition of intermediate goods (up 7.3%) and capital goods (up 20.2%), which effectively counterbalanced the reduction in consumption goods (down 4.3%). China (accounting for 12.6% of imports) remained the leading import source, followed by Russia (11.8%) and Germany (7.4%). In parallel, exports increased by 2% compared to the same month last year, amounting to USD 23.9 billion. This growth was mainly fueled by a 3.2% rise in manufacturing sales, despite notable decreases in agriculture, forestry, and fishing (down 7.7%) as well as mining and quarrying (down 32.9%). Key export destinations included Germany (8.4%), the UK (5.9%), and the US (5.9%). Analyzing the first ten months of 2025, Turkey's trade deficit widened to USD 74.7 billion, compared to USD 65.9 billion during the same period the previous year.