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Türkiye recorded a foreign trade deficit of $12.09 billion in April, marking a 22.3% year-on-year increase and the highest monthly gap since July 2023, according to data released Thursday by the Turkish Statistical Institute (TurkStat).
Türkiye’s exports rose by 7.8% compared to the same month last year, reaching $20.8 billion—the highest monthly figure in nearly two years. However, this increase was outpaced by a 12.7% rise in imports, which totaled $32.89 billion in April.
The export-to-import coverage ratio, a key indicator of trade balance health, declined to 63.2% in April, down from 66.1% a year earlier.
When excluding energy products and non-monetary gold, volatile components that often distort the trade balance, the foreign trade deficit stood at $6.16 billion.
In this adjusted category, exports increased by 11.1% to $19.25 billion, while imports rose by 13.5% to $25.42 billion. The export-import coverage ratio, excluding these components, stood at 75.7%.
Türkiye’s total foreign trade volume, excluding energy and non-monetary gold, expanded by 12.5% to $44.67 billion in April.
Germany retained its position as Türkiye’s largest export destination in April, with shipments totaling $1.77 billion. It was followed by the United Kingdom ($1.35 billion), the United States ($1.15 billion), Italy ($1.05 billion), and France ($851 million).
These five markets accounted for 29.6% of Türkiye’s total exports.
On the import side, China remained Türkiye’s leading source of goods, accounting for $4.18 billion in April. Russia followed with $3.58 billion, trailed by Germany ($2.77 billion), Switzerland ($1.78 billion), and Italy ($1.54 billion).
The top five import partners made up 42.1% of Türkiye’s total imports.
Between January and April, Türkiye’s exports rose by 3.7% to $86.1 billion, while imports climbed by 6.6% to $120.7 billion.
The cumulative foreign trade deficit for the four months reached $34.58 billion, up 14.7% from the same period last year.
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