Turkey trade deficit rises to $5.2 billion in August

Data from the Turkish Statistical Institute (TÜİK) for August 2026 shows a rise in both exports and imports, leading to an increased foreign trade deficit. Total exports rose 8.1% to $23.467 billion, while imports increased 10.5% to $28.706 billion. Consequently, the monthly trade deficit grew by 22.3%, reaching $5.239 billion. For the first eight months of 2026, the trade deficit reached $65.793 billion.

In the labor market, the unemployment rate fell by 0.3 percentage points to 7.8%. The number of unemployed individuals decreased by 106,000 compared to the previous month. Youth unemployment also saw a significant drop of 1.1 percentage points, falling to 13.0%. Employment figures rose by 136,000 people, reaching a total of 32.507 million.

Regional trade data highlights varied performances. Kayseri reported August exports of $333.76 million, with an eight-month total of $2.63 billion. Van saw a notable 110.8% annual increase in exports. In the manufacturing sector, which accounted for 93.6% of total exports, Germany remained the top export destination, while China was the primary source of imports.