Turkey Feb. preliminary trade exports rise 1.6% y/y

Turkey Feb. preliminary trade exports rise 1.6% y/y

Turkey’s February Trade Deficit Widens Amid Declining Exports and Rising Imports

Turkey’s trade deficit expanded to $7.77 billion in February 2026, a 14.8% increase year-on-year, driven by a 1.6% annual decline in exports and a 2.4% rise in imports, according to official data from the Turkish Statistical Institute (TurkStat). Total exports fell to $20.76 billion, while imports surged to $28.53 billion, reflecting persistent imbalances in the country's trade dynamics.

The exports-to-imports coverage ratio dropped to 72.8% in February 2026, down from 75.7% in the same period of 2024, signaling weaker export competitiveness. When excluding energy products and non-monetary gold, the trade gap narrowed slightly to $19.13 billion, a 2.3% annual decline.

Germany remained Turkey's largest export destination, accounting for $1.69 billion in goods, followed by the United Kingdom ($1.25 billion), the United States ($1.2 billion), and Italy ($1.09 billion). On the import side, Russia was the top supplier at $3.86 billion, with China ($3.54 billion) and Germany ($2.14 billion) also contributing significantly, according to Anadolu Agency reporting.

The data highlights structural challenges in Turkey's trade balance, as imports of capital goods and consumption items continue to outpace export growth. Analysts note that global demand for Turkish exports remains subdued, while energy and commodity price fluctuations amplify import pressures.

For context, Turkey's trade deficit had already widened to $8.4 billion in January 2026, according to preliminary ministry estimates. The cumulative trend underscores the need for policy measures to bolster export sectors and reduce reliance on imported energy and raw materials.

Source 1: Turkish Statistical Institute (TurkStat)
Source 2: Anadolu Agency (AA)
Source 3: Trading Economics (preliminary January 2026 data)

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