Exports surge to a record-breaking $267 billion level over a 12-month period.
In June 2025, Turkey's trade landscape demonstrated a robust performance, with both exports and imports showing impressive growth. According to recent data, the country's intermediate goods imports rose by 11.8 percent, reaching $19.4 billion, while consumer goods imports increased by 13.5 percent, amounting to $5 billion.
The export-import coverage ratio in Turkey was 71.5 percent in June, indicating a slight improvement compared to the previous year. Turkey's exports increased by 8 percent year-on-year to $20.54 billion, with significant contributions from key export markets.
In terms of destinations, Germany remained Turkey's largest export market, with exports totaling $1.73 billion in June. The United Kingdom ranked second, followed by the United States, Italy, and Iraq, respectively. These five countries collectively accounted for about 30.1% of Turkey’s total exports in May 2025.
Omer Bolat, Turkey's Trade Minister, announced that the 8 percent rise in exports was the largest increase in the past year. Moreover, the 12-month rolling exports reached a record high of $267 billion in June, as stated by Mr. Bolat.
On the imports side, China was the largest source of imports to Turkey in June, with imports totaling $3.83 billion. Russia followed closely, with imports totaling $3.32 billion, while Germany was the third-largest source of imports, contributing $2.7 billion. The U.K. was the third-largest destination for Turkish exports in June, with exports totaling $1.17 billion.
From January to June, Turkey's exports rose 4.1 percent year-on-year to $131.44 billion, while imports increased by 7.2 percent year-on-year to $180.87 billion. This resulted in a foreign trade gap of $8.17 billion in June, representing a 38.8 percent increase from the same month last year. The foreign trade gap also increased by 16.3 percent in the first half of 2025, reaching $49.4 billion.
These figures reflect strong trade relations, especially with European nations and neighboring countries, underscoring Turkey's strategic position as a key player in the global trade arena.
With the significant rise in exports and the meaningful improvement in the export-import coverage ratio, the finance sector in Turkey might experience a positive impact, given the increase in revenue from the industry sector. As China was the largest source of imports for Turkey, the finance industry could potentially be influenced by the country's relations with the Chinese economy.
