Foreign trade deficit of Türkiye down 46% on monthly basis in May to $6.5B
Türkiye's exports increased 2.7% year-on-year to reach an all-time monthly record of $24.8 billion in May, Türkiye's Trade Minister Omer Bolat announced on Monday.
"Our exports are increasing despite weak demand and tough competition," Omer Bolat said at a press conference in Istanbul.
On a monthly basis, the exports jumped 19.4% from April's $20.8 billion.
Türkiye's imports also rose by 2.1% on an annual basis to $31.3 billion in May.
The foreign trade balance of Türkiye posted a deficit of $6.5 billion last month, slightly up 0.1% from May 2024, but down by 46% from the previous month.
In the first five months of 2025, exports reached $110.9 billion, up by 3.5% from the same period of last year, while imports amounted to $152 billion, up 5.7%.
In the last 12 months, exports hit an all-time high of $265.5 billion, also up by 1.9% from the previous period, while imports reached $352.2 billion, up 1.4%.
In May, most Turkish exports went to Germany, with a share of 8.3%, followed by the UK with 6.2%, the US with 6% and Italy with a 5% share.
