Overview In May 2023 Turkey exported $19.6B and imported $31.8B, resulting in a negative trade balance of $12.2B. Between May 2022 and May 2023 the exports of Turkey have increased by $2.05B (11.7%) from $17.5B to $19.6B, while imports increased by $4.59B (16.9%) from $27.2B to $31.8B.
Trade In May 2023, the top exports of Turkey were Cars, tractors, trucks & parts thereof. ($2.48B), Machinery, mechanical appliances, & parts ($1.92B), Electrical machinery and electronics ($1.12B), Precious stones, metals, & pearls ($899M), and Iron or steel articles ($830M). In May 2023 the top imports of Turkey were Mineral fuels, mineral oils and products... ($4.79B), Machinery, mechanical appliances, & parts ($3.6B), Precious stones, metals, & pearls ($3.06B), Cars, tractors, trucks & parts thereof. ($2.8B), and Iron & steel ($2.77B).
Origins In May 2023 the exports of Turkey were mainly from Ýstanbul ($9.74B), Ýzmir ($1.31B), Ankara ($1.07B), Bursa ($1.04B), and Kocaeli ($978M), while imports destinations were mainly Ýstanbul ($17.4B), Gizli Veri ($2.62B), Kocaeli ($1.86B), Ankara ($1.83B), and Ýzmir ($1.08B).
Destinations In May 2023, Turkey exported mostly to Germany ($1.62B), United States ($1.2B), United Kingdom ($1B), Spain ($913M), and Italy ($911M), and imported mostly from Russia ($4.18B), China ($4.14B), Germany ($2.44B), World ($1.86B), and United Arab Emirates ($1.81B).
Growth In May 2023, the increase in Turkey's year-by-year exports was explained primarily by an increase in exports to Russia ($372M or 85.6%), Germany ($231M or 16.7%), and France ($173M or 24.3%), and product exports increase in Cars, tractors, trucks & parts thereof. ($514M or 26.2%), Machinery, mechanical appliances, & parts ($493M or 34.5%), and Electrical machinery and electronics ($286M or 34.5%). In May 2023, the increase in Turkey's year-by-year imports was explained primarily by an increase in imports from United Arab Emirates ($1.44B or 390%), China ($1.18B or 40.1%), and Germany ($628M or 34.7%), and product imports increase in Precious stones, metals, & pearls ($1.61B or 111%), Cars, tractors, trucks & parts thereof. ($1.47B or 111%), and Machinery, mechanical appliances, & parts ($1.22B or 51.1%).