Turkey's May trade deficit shrinks as imports drop faster than exports

Official Turkish data show the foreign trade deficit narrowed 15.6% year‑on‑year to $5.61 billion in May. Exports fell 9.5% to $22.46 billion, while imports dropped 10.8% to $28.07 billion, improving the export‑import coverage ratio to 80%.

Excluding energy products and non‑monetary gold, the deficit shrank to $525 million with a coverage ratio of 97.5%. Germany remained Turkey’s top export market ($1.71 billion), followed by the United States ($1.52 billion) and the United Kingdom ($1.38 billion). Russia was the leading source of imports ($3.76 billion), ahead of China ($3.43 billion) and Germany ($2.04 billion).