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Turkish trade officials reported that July exports marked both the highest figure for the month on record and the second-highest monthly total overall. Trade Minister Omer Bolat described the performance at a press conference as achieving three records in exports for the month. He highlighted that annualized goods exports had climbed to a record $278.6 billion.
The ministry data indicated imports advanced 5.2 percent to nearly $33 billion last month, lifting the trade deficit by 14 percent to $7.37 billion. Overall trade volume grew 4.1 percent to $58.6 billion. The export-to-import coverage ratio declined to 77.7 percent from a year earlier.
Cumulative exports for the first seven months rose 3.4 percent to $161.6 billion, according to TurkStat and the Trade Ministry. Imports during that period increased 4.7 percent to $222.1 billion, producing a trade gap of $60.5 billion that was 8.2 percent larger. The coverage ratio for January to July stood at 72.8 percent.
Bolat noted that annualized exports reached an all-time high, with goods and services combined projected to exceed $401 billion. The minister pointed to resilience in the export sector despite geopolitical tensions and weak global demand, according to the Trade Ministry briefing. He added that efforts to find new markets continue.
Germany led Türkiye’s export destinations in July with purchases worth more than $2 billion, the official figures show. The United States followed at $1.7 billion and the United Kingdom at $1.3 billion. Manufacturing products made up 94.4 percent of total exports.
Turkish Exporters Assembly President Mustafa Gültepe stated that the July performance strengthens determination to reach higher targets. “We continue to produce, export and search for new markets for our companies despite all difficulties,” he said in a statement. The seven-month and 12-month export growth both stood at 3.4 percent.
