FX.co ★ Turkey Trade Gap Largest in 4 Months

According to preliminary data released by the Trade Ministry, Turkey's trade deficit expanded to $7.4 billion in October 2025, up from $5.9 billion in the corresponding month of the previous year. This represents the most significant trade gap observed in four months. The widening deficit is attributed to a 6.6% year-on-year increase in imports, reaching $31.4 billion, propelled by a surge in the acquisition of intermediate goods (up 6.5%) and capital goods (up 20.2%). China, with imports valuing $4.0 billion, continued to be the leading source, followed by Russia at $3.5 billion and Germany at $2.3 billion. On the export side, there was a modest growth of 2.3%, totaling $24.0 billion. This increase was bolstered by sales of intermediate goods (up 3.9%) and capital goods (up 20.5%). The primary export markets included Germany at $2.0 billion, the United States at $1.43 billion, and the United Kingdom at $1.4 billion. Over the period from January to October 2025, the trade deficit expanded to $74.4 billion, compared to $65.9 billion during the same timeframe in the previous year.