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Türkiye posted a $9.2 billion trade deficit in February 2026, up 18.1% from a year earlier, as imports rose faster than exports despite steady shipments abroad, Trade Minister Omer Bolat said on Tuesday.
Exports increased 1.6% year-on-year to $21.1 billion in February, marking the second-highest February figure on record, while annualized goods exports reached $272.8 billion. Imports rose 6.1% from a year earlier to $30.3 billion, with the export-to-import coverage ratio standing at 69.6%.
The services side maintained its momentum. As of February, annualized services exports are expected to reach $123.2 billion, bringing total goods and services exports to $396 billion.
Energy and jewelry shipments weighed on the monthly figure. Energy exports dropped 40.3% to $818 million, largely due to a $515 million fall in petroleum oil exports. Processed gold and jewelry exports also declined, reflecting global price swings. Excluding gold and energy, exports rose 6.3% to $19.2 billion.
On the import side, silver purchases totaled $1.1 billion and unprocessed gold imports reached $2.2 billion, while energy imports declined 16.6% to $5.1 billion.
Commenting on the figures, Bolat said Türkiye’s economy has continued to stand out positively thanks to its production capacity and export strength despite global economic conditions.
He also reviewed the 2025 growth figures, recalling that Türkiye’s economy maintained steady expansion with 2.5% growth in the first quarter, 4.7% in the second quarter, 3.8% in the third quarter and 3.4% in the final quarter, bringing full-year growth to 3.6%.
Among OECD countries that have announced data, Türkiye ranked as the second fastest-growing economy alongside Poland, and national income surpassed $18,000, reaching a record level, he highlighted.
Bolat also addressed concerns about the potential impact of the Iran conflict on Türkiye’s foreign trade balance.
"The effects of the war on oil, gold, and financial markets are being closely monitored," he said. "Necessary measures will be taken to prevent any possible impact on our country."
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