Exports down 9.5%, imports down 10.8% in May; trade deficit narrows

According to provisional data released by TÜİK and the Ministry of Trade, exports fell 9.5% and imports fell 10.8% in May. The foreign trade deficit narrowed by 15.6% year-on-year to $5.61 billion.

According to provisional foreign trade data for May prepared in cooperation with the Turkish Statistical Institute (TÜİK) and the Ministry of Trade, exports fell 9.5% compared to the same month last year to $22.461 billion.

Imports, on the other hand, fell 10.8% to $28.071 billion. The foreign trade deficit narrowed by 15.6% year-on-year in May to $5.61 billion. The export-import coverage ratio rose to 80% from 78.9% in May 2025.

In the January-May period, exports rose 0.2% to $111.118 billion, while imports rose 1.1% to $153.834 billion. The foreign trade deficit widened by 3.6% to $42.716 billion in the same period. The export-import coverage ratio fell to 72.2%.

Foreign Trade Excluding Energy and Gold

Exports excluding energy products and non-monetary gold fell 11.5% in May to $20.5 billion. Imports under the same scope fell 16.2% to $21.025 billion. The foreign trade deficit excluding energy and gold was calculated at $525 million, while foreign trade volume decreased 13.9% to $41.525 billion. The export-import coverage ratio was determined as 97.5%.

By economic activity, the share of manufacturing in exports was 94.5% in May, while agriculture, forestry and fishing accounted for 3.3%, and mining and quarrying 1.6%. In imports, according to the broad economic groups classification, intermediate goods accounted for 72.7%, capital goods 13.4%, and consumer goods 13.8%.

Foreign Trade by Country

In May, Germany ranked first in exports with $1.714 billion. It was followed by the US with $1.520 billion, the United Kingdom with $1.380 billion, Italy with $1.144 billion, and Spain with $922 million. Exports to the top five countries accounted for 29.7% of total exports.

In the January-May period, Germany ranked first in exports with $9.276 billion, followed by the US ($6.945 billion), the United Kingdom ($6.776 billion), Italy ($5.891 billion), and France ($4.640 billion).

In imports in May, Russia ranked first with $3.758 billion. It was followed by China ($3.431 billion), Germany ($2.040 billion), the US ($1.208 billion), and Italy ($1.057 billion). Imports from the top five countries accounted for 40.9% of total imports. In the January-May period, China ranked first in imports with $21.035 billion, while Russia came second with $17.270 billion.

Seasonally and Calendar Adjusted Data

According to the seasonally and calendar adjusted series, exports fell 0.8% and imports fell 1.9% in May compared to the previous month. According to the calendar adjusted series, exports rose 4.8% and imports rose 4.3% compared to the same month last year.

Technology Intensity

According to the ISIC Rev. 4 classification, the share of manufacturing industry products in total exports was 94.5% in May. The share of high-technology products in manufacturing industry exports was recorded as 3.1%. In imports, the share of manufacturing industry products was 77.1%, and the share of high-technology products in manufacturing industry imports was 11.8%.

Special Trade System Data

According to the Special Trade System, exports fell 8.9% year-on-year in May to $20.634 billion, while imports fell 10% to $26.389 billion. The foreign trade deficit narrowed by 13.6% to $5.756 billion. The export-import coverage ratio rose to 78.2%.

In the January-May period, according to the Special Trade System, exports rose 1% to $101.934 billion, while imports rose 2.1% to $145.583 billion. The foreign trade deficit widened by 4.7% to $43.649 billion.