April 2, 2026
Turkey’s foreign trade deficit surged to $11.3 billion in March, marking a sharp increase compared to the same period last year, according to official data released by the Ministry of Trade.
Exports Decline While Imports Rise
In March, Turkey’s exports fell by 6.4% year-on-year to $21.9 billion, while imports climbed 8.4% to $33.2 billion, reflecting growing pressure on the country’s external balance.
The widening gap between exports and imports led to a 56.6% increase in the monthly trade deficit, highlighting a significant deterioration in trade performance.
Trade Volume Shows Modest Growth
Despite the imbalance, total foreign trade volume rose by 2% to $55.1 billion, indicating continued economic activity largely driven by imports rather than exports.
Coverage Ratio Declines
The ratio of exports to imports dropped by 10.4 percentage points to 66.1%, signaling a weaker ability of exports to finance imports.
First Quarter Trends Also Negative
The negative trend extended into the first quarter of 2026. Between January and March:
- Exports declined 3.1% to $63.3 billion
- Imports increased 4.7% to $92 billion
- Trade deficit widened to $28.7 billion
Outlook
The data suggests that Turkey’s trade balance remains under pressure, with rising imports and weakening exports contributing to a growing deficit. Analysts note that global economic uncertainty, geopolitical tensions, and domestic factors continue to weigh on trade performance.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök