Turkey's Foreign Trade Gap Hits $12.1 Billion in April

The foreign trade gap stood at $12.09 billion last month, up 22.3% year-over-year, according to data from the Turkish Statistical Institute (TurkStat).

The country's exports totaled $20.8 billion, rising 7.8%, while imports amounted to $32.89 billion, up 12.7% annually.

The export-import coverage ratio was at 63.2% last month.

"Despite the negative conditions and increasing uncertainties in the global economy, our exports in April 2025 increased by 7.8% to $20.8 billion. Thus, the second-highest April export was reached," said Trade Minister Ömer Bolat.

"As of April 2025, our annualized exports increased by $6.9 billion compared to the same month of the previous year and reached an all-time high of $264.9 billion," he added.

The foreign trade deficit, excluding energy products and non-monetary gold, was $6.16 billion in April.

During the first four-month period, exports were $86.1 billion, up 3.7%, and imports were $120.7 billion, up 6.6%.

The fourth-month foreign trade gap came in at $34.58 billion, up 14.7% compared to the same period last year.

Commenting further on data, Bolat said on X that the exports continued to increase despite the annualized imports in the EU remaining flat, the uncertainty brought by tariff increases, and the tough competition brought about by China's continued reduction of export prices.

"As the government, we will resolutely continue our policies to increase exports of goods and services and protect domestic producers, thus ensuring a stable course in the current account and strengthening macroeconomic stability," Bolat noted.

Source: Daily Sabah