Turkish Exports Rise, Foreign Trade Deficit Narrows in March

The country’s exports amounted to $23.4 billion in March, marking a 3.4 percent increase from the same month of last year.

Imports were up 2.2 percent annually to $30.6 billion, leading to a foreign trade deficit of $7.2 billion, a 1.5 percent decline from a year ago.

The export/import coverage ratio improved from 75.6 percent in March last year to 76.5 percent this March.

When energy products and non-monetary gold are excluded, exports were at $21.5 billion with a 3.3 percent increase in March 2025, and imports were $23.15 billion.

The foreign trade deficit, excluding energy products and non-monetary gold, was $1.6 billion.

Germany was the largest export market with $1.86 billion in March, followed by the U.K. and the U.S. with $1.5 billion and $1.42 billion, respectively.

Imports from China amounted to $4 billion, making it the largest supplier of goods to Turkey. Russia came second with $3.3 billion, while imports from Germany were $2.5 billion.

In the first quarter of 2025, the country’s exports rose 2.5 percent year-on-year to $65.3 billion, while the annual increase in imports was 4.5 percent to $87.8 billion.

Consequently, Turkey’s foreign trade balance posted a deficit of $22.5 billion, an 11 percent increase compared to the January-March period of last year.

Source: HDN