Turkish export figures soared to a record-breaking $25 billion in July.
In a significant development, Turkey's monthly exports reached an all-time high of $25 billion in July 2025, marking a 12% year-on-year increase and a $4.5 billion increase compared to June 2024. This impressive growth was largely driven by the robust performances of key sectors such as automotive, chemicals, ready-made clothing, electrical and electronics, and steel.
The automotive sector led the charge with approximately $3.8 billion in exports, followed closely by the chemical sector with around $3.4 billion. Ready-made clothing exports reached about $1.58 billion, while electrical and electronics exports amounted to $1.57 billion. The steel sector contributed approximately $1.4 billion. These sectors' combined growth helped narrow Turkey's foreign trade deficit by 12.1% year-on-year, aided by controlled import growth.
The chemicals sector, in particular, had its best performance ever with $3.4 billion in exports in July 2024. This growth contributed significantly to an 11% year-on-year export increase, adding around $2.5 billion compared to July 2024. The export-to-import coverage ratio also improved in this period.
The foreign trade deficit in July 2024 marked the lowest deficit in the past nine months, dropping to $6.4 billion, down 12% from $7.3 billion in July 2023. This narrowing of the trade deficit is a testament to the effectiveness of Turkey's strategy to modernize trade agreements and enhance global trade relations amid challenging economic conditions.
Moreover, service exports also grew, estimated at $11.8 billion for July, adding to the overall positive trade performance. The export growth's stability and diversification across key sectors are noted as essential for sustained economic growth and continued narrowing of the trade deficit.
The Turkish Exporters Assembly's head, Mustafa Gültepe, emphasised the need for consistent and sustainable growth, stating that all sectors need to be included in the growth. Nine to 10 trade barriers remain to be removed in the progress with the European Commission, indicating that Turkey's export growth momentum is expected to continue.
[1] Source: Turkish Exporters Assembly [2] Source: Turkish Statistical Institute [3] Source: Ministry of Trade and Industry [4] Source: Central Bank of Turkey
- The impressive growth in Turkey's exports, particularly in key sectors like automotive, chemicals, ready-made clothing, electrical and electronics, and steel, has been influential in narrowing the foreign trade deficit, with sectors like the chemicals sector achieving their best performance ever.
- The export growth, particularly in July 2025, has been stable and diversified across key sectors, contributing to a positive overall trade performance and a reduced foreign trade deficit compared to the previous year.
- Sustained economic growth in Turkey is expected due to the export growth's stability and diversification across key sectors, with nine to ten trade barriers still being addressed in progress with the European Commission.
- Estimated service exports for July reached $11.8 billion, adding to the overall positive trade performance, as Turkey continues to modernize trade agreements and enhance global trade relations, even amid challenging economic conditions in the European Union and other global markets.
