12-month exports reach an unprecedented peak of $267 billion in value
In a positive development for Turkey's economy, the country's exports and imports have shown robust growth in the first half of 2025. According to Trade Minister Omer Bolat, Turkey's 12-month rolling exports reached a record high of $267 billion in June, marking a 4.1% increase from the previous year to $131.44 billion in total exports from January to June.
The growth in exports was particularly noteworthy, with a 8% year-on-year increase in June to $20.54 billion. This was the largest increase in the past year, as reported by Minister Bolat. The top destinations for Turkey's exports in 2025 are Germany, the United States, Iraq, the United Kingdom, and Italy, with Germany remaining the leading export destination, boasting export values around $21 billion in recent years and continuing as the top partner in 2025.
The United States follows as the second largest export destination, with exports valued at approximately $14.8 billion, while Iraq takes the third spot with exports close to $12.8 billion. The United Kingdom and Italy are among the most frequent top export partners for Turkey in 2025, though their exact export values were not specified in the data provided.
On the imports side, Turkey's total imports increased by 7.2% to $180.87 billion from January to June. In June alone, imports increased by 15.3% year-on-year to $28.7 billion. Russia was the second-largest source of imports to Turkey in June, with $3.32 billion, followed closely by China, which was the largest source of imports with $3.83 billion. Germany was the third-largest source of imports to Turkey in June, with $2.7 billion.
The foreign trade gap, which represents the difference between exports and imports, increased by 16.3% to reach $49.4 billion in the first half of 2025. In June, the foreign trade gap was $8.17 billion, a 38.8% increase from the same month last year. However, the export-import coverage ratio, which measures the number of exports needed to pay for imports, was a healthy 71.5% in June.
Intermediate and consumer goods imports to Turkey saw significant increases in June, with a 11.8% and 13.5% increase respectively, reaching $19.4 billion and $5 billion. Capital goods imports also saw a 13.5% increase in June, with $4.2 billion worth of capital goods imported.
These figures reflect Turkey's most important trade partners by export value and indicate sustained growth and diversification in exports for 2025. The strong trade ties with the EU, especially with Germany, the UK, and Italy, were further emphasized by an 8% increase in exports to the EU in the first half of 2025. The growth in exports was supported by various sectors, including a significant rise in exports like rebar steel mainly to countries such as Yemen and Romania.
In conclusion, Turkey's trade performance in the first half of 2025 shows a positive trend, with significant growth in exports, imports, and the foreign trade gap. The country's top export destinations for 2025 are Germany, the United States, Iraq, the United Kingdom, and Italy, in that order. The export-import coverage ratio for the first half of 2025 is not provided in the text.
The growth in exports, particularly in June with an 8% year-on-year increase, has significantly contributed to the finance sector in Turkey. This increase in exports has not only boosted the foreign exchange reserves but also strengthened the country's position in the global industry landscape, with Germany remaining the leading export destination. The United States, with exports valued around $14.8 billion, is the second-largest export destination, demonstrating the strong financial ties between Turkey and these major global economies.
