Turkey sets new export records in July, aiming for even higher growth in the future
In a significant development, Tuğrul Çevik, the Trade Minister of Türkiye, has declared July 2025 as a "legendary month" for foreign trade. The country's resilience is attributed to its leadership and a multi-track approach to trade diplomacy.
The foreign trade deficit in July 2025 marked the lowest monthly deficit in the past nine months, dropping to $6.4 billion, down from $7.3 billion a year earlier. This improvement is a result of a slowdown in import growth and a surge in exports, which reached a record-breaking $25 billion in goods sold abroad.
Turkey's exports have been on an upward trend, with the first half of 2025 seeing a 4.1% year-on-year increase to reach $131.4 billion. However, imports grew by 7.2%, leading to a foreign trade deficit of $49.4 billion for the six-month period.
June 2025 data showed exports rising 7.9% to $20.5 billion, with imports climbing sharply by 15.2% to $28.7 billion, creating a monthly trade deficit of about $8.2 billion. However, July 2025 saw a significant turnaround, with exports increasing by 11% compared to July 2024, and imports rising by just over 5%.
The growth in foreign trade is part of a broader trend aimed at stabilizing and rebalancing the national economy. Services exports in 2024 reached $115 billion, with a target of $121 billion set for 2025. To further boost trade relations, the EU has issued a directive to grant longer-term visas to frequent and compliant Turkish travelers, and has agreed to ease visa restrictions for Turkish citizens with a travel history to the bloc.
Talks to modernize the Customs Union between Turkey and the EU are ongoing, with fourteen barriers to trade with the EU having been lifted, leaving fewer than ten remaining. Germany is the top export destination, and China is the main import source.
As of mid-2025, Turkey's foreign trade shows a growing export volume alongside a rising foreign trade deficit. Despite global headwinds, Turkey has maintained a steady economic trajectory, offering hope for continued growth in the future.
[1] Source: Statista [2] Source: Trading Economics [3] Source: Anadolu Agency [4] Source: Reuters
- The Turkish government attributes the country's economic resilience to its leadership and a multi-track approach to trade diplomacy, as announced by Tuğrul Çevik, the Trade Minister of Turkiye.
- The foreign trade deficit in July 2025, a "legendary month" for foreign trade as declared by Çevik, marked the lowest monthly deficit in the past nine months, dropping to $6.4 billion.
- The improvement in the trade deficit is due to a slowdown in import growth and a surge in exports, which reached a record-breaking $25 billion in July 2025.
- The growth in foreign trade is part of a broader trend aimed at stabilizing and rebalancing the national economy, with services exports in 2024 reaching $115 billion and a target of $121 billion set for 2025.
- To further boost trade relations, the European Union has issued a directive to grant longer-term visas to frequent and compliant Turkish travelers and has agreed to ease visa restrictions for Turkish citizens with a travel history to the bloc.
- Talks to modernize the Customs Union between Turkey and the EU are ongoing, with Germany being the top export destination and China being the main import source, despite fewer than ten barriers to trade with the EU remaining.
