Türkiye's exports surge 11% year-on-year in July

By Mucahithan Avcioglu

ISTANBUL (AA) - Turkish exports posted a rise of 11% on an annual basis to $24.94 billion in July, according to data from the Turkish Statistical Institute (TurkStat) on Thursday.

Türkiye's imports also increased 5.4% year-on-year to $31.38 billion in July, resulting in a trade deficit of $6.4 billion, down 11.8%.

Excluding energy and non-monetary gold, the foreign trade deficit was $2.18 billion, the data showed.

In July, the ratios of the manufacturing industries products sector, agriculture, forestry and fishing sector, and the mining and quarrying sector in total exports were 95.5%, 2.2%, and 1.6%, respectively.

High-tech's share in the manufacturing side was at 4.2%, and medium-high tech's share was at 41.6% in July.

The top destination country for Turkish exports was Germany with $1.97 billion, followed by the UK with $1.69 billion and the US with $1.57 billion.

China was the top source of imports to Türkiye with $4.64 billion, followed by Russia with $3.56 billion and Germany with $3 billion.

In January-July, the country's exports totaled $156.3 billion, up 5.1%, and imports were at $212.22 billion, up 6.9%.

The foreign trade deficit in the seven-month period was at $55.9 billion, up 12.2% compared to the same period of 2024.