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Türkiye’s trade deficit shrank 12.1% year-on-year in July, Trade Minister Ömer Bolat announced Saturday.
Bolat said exports rose to $25 billion in July, while imports stood at $31.4 billion. He made the comments during a press conference in Samsun.
“The decline in foreign trade deficit was thanks to a strong export performance and controlled import growth,” he said.
In the January-July period of 2025, exports for the first seven months reached $156 billion, while exports for the last 12 months rose to $269.5 billion.
According to Türkiye Exporters’ Assembly (TIM) President Mustafa Gültepe, the $2.5 billion increase in July exports was due to parity in automotive and chemical sectors.
“We are certainly not complaining,” Gültepe said. “But for stable and sustainable growth, we need to bring all sectors into the game.”
July marked Türkiye’s highest monthly export value on record, climbing 11% compared with the same month last year. Service exports are estimated to have reached $11.8 billion.
Automotive led the way with $3.8 billion in exports, followed by chemicals ($3.4 billion), ready-made clothing ($1.58 billion), electrical and electronics ($1.57 billion), and steel ($1.4 billion).
Seventeen sectors posted export growth, while nine saw declines. The top exporting provinces were Istanbul, Kocaeli, Ankara, Bursa, and Izmir, with Ankara, Bolu, Çankırı, Edirne, and Muğla hitting record monthly figures. In July, 1,180 companies exported for the first time.
Türkiye’s main export destinations were Germany, the U.K., the U.S., the UAE, and Italy. Exports to 52 countries rose more than 50%, while 107 countries saw growth above 10%. Overall, exports increased to 137 countries.
Gültepe welcomed the Central Bank’s recent 300 basis point interest rate cut, describing it as a “positive step” toward boosting competitiveness. He also praised the extension of the 3% foreign exchange conversion support.
Focus on U.S. market
On U.S.-Türkiye trade, Gültepe criticized Washington’s decision to raise additional tariffs on Turkish goods from 10% to 15%, calling it “unfortunate.” However, he said TİM remains focused on increasing its share in the U.S. market.
“If we can return to the competitiveness of 2–3 years ago, we can turn our partial advantage into an opportunity,” he said, stressing the need for persistent trade diplomacy with the U.S.
