Türkiye Sets October Export Record with Unprecedented Shipment Growth
(MENAFN) Türkiye recorded its strongest October performance ever for goods exports last month, with shipments increasing 8.1% from a year earlier to $25.9 billion, Trade Minister Omer Bolat announced Tuesday.
"The highest October export record was broken last month; our goods exports rose 8.1% year-on-year to reach $25.9 billion," Bolat said.
Annualized goods exports reached $285.6 billion, marking a $15.6 billion increase compared with October 2025 and exceeding the government's target of $282 billion.
"As of the end of October, total annualized goods and services exports rose to $413 billion," Bolat said.
"We have exceeded our $410 billion target as of October," he added.
Meanwhile, Türkiye's imports grew 3.4% year-on-year to $32.58 billion in October, according to the Trade Ministry's monthly foreign trade bulletin issued later Tuesday.
Despite the increase in imports, the country's trade deficit fell 11.4% compared with October 2025, declining to $6.7 billion from $7.56 billion a year earlier. Total foreign trade activity expanded 5.4% to $58.47 billion.
The export-to-import coverage ratio improved by 3.4 percentage points to 79.4%. When energy products were excluded, the ratio reached 100%, rising to 101.7% when both energy and gold were removed.
During the first 10 months of 2026, goods exports increased 5.5% annually to $236.84 billion, while imports climbed 5.1% to $314.5 billion. The resulting trade deficit stood at $77.67 billion.
Germany was Türkiye's leading export destination in October, purchasing goods worth $2.07 billion. The US followed with $1.86 billion, while shipments to the UK totaled $1.38 billion. The country's 10 largest export markets collectively accounted for 45.3% of total shipments.
China ranked as Türkiye's biggest import supplier, with purchases reaching $4.41 billion. Germany followed at $2.22 billion and the US at $1.77 billion.
Among regional markets, the European Union received the largest share of Turkish exports, valued at $10.4 billion. Near and Middle Eastern countries followed with $4.25 billion, while other European markets accounted for $3.74 billion.
Asian countries were Türkiye's largest source of imports, supplying goods worth $9.77 billion, followed by the EU with $9.39 billion.
Intermediate products represented the largest share of exports by broad economic category, accounting for 50.4% of the total at $13.04 billion. Consumer goods followed with $8.4 billion, while capital goods reached $3.85 billion.
Intermediate goods also dominated imports, making up 71.7% of the total at $23.36 billion. Consumer goods accounted for $4.65 billion, followed by capital goods at $4.39 billion.
Manufactured products generated 93.3% of Türkiye's total goods exports in October, reaching $24.15 billion. Agriculture, forestry and fishing contributed 3.2%, while mining accounted for 2.5%.
"The highest October export record was broken last month; our goods exports rose 8.1% year-on-year to reach $25.9 billion," Bolat said.
Annualized goods exports reached $285.6 billion, marking a $15.6 billion increase compared with October 2025 and exceeding the government's target of $282 billion.
"As of the end of October, total annualized goods and services exports rose to $413 billion," Bolat said.
"We have exceeded our $410 billion target as of October," he added.
Meanwhile, Türkiye's imports grew 3.4% year-on-year to $32.58 billion in October, according to the Trade Ministry's monthly foreign trade bulletin issued later Tuesday.
Despite the increase in imports, the country's trade deficit fell 11.4% compared with October 2025, declining to $6.7 billion from $7.56 billion a year earlier. Total foreign trade activity expanded 5.4% to $58.47 billion.
The export-to-import coverage ratio improved by 3.4 percentage points to 79.4%. When energy products were excluded, the ratio reached 100%, rising to 101.7% when both energy and gold were removed.
During the first 10 months of 2026, goods exports increased 5.5% annually to $236.84 billion, while imports climbed 5.1% to $314.5 billion. The resulting trade deficit stood at $77.67 billion.
Germany was Türkiye's leading export destination in October, purchasing goods worth $2.07 billion. The US followed with $1.86 billion, while shipments to the UK totaled $1.38 billion. The country's 10 largest export markets collectively accounted for 45.3% of total shipments.
China ranked as Türkiye's biggest import supplier, with purchases reaching $4.41 billion. Germany followed at $2.22 billion and the US at $1.77 billion.
Among regional markets, the European Union received the largest share of Turkish exports, valued at $10.4 billion. Near and Middle Eastern countries followed with $4.25 billion, while other European markets accounted for $3.74 billion.
Asian countries were Türkiye's largest source of imports, supplying goods worth $9.77 billion, followed by the EU with $9.39 billion.
Intermediate products represented the largest share of exports by broad economic category, accounting for 50.4% of the total at $13.04 billion. Consumer goods followed with $8.4 billion, while capital goods reached $3.85 billion.
Intermediate goods also dominated imports, making up 71.7% of the total at $23.36 billion. Consumer goods accounted for $4.65 billion, followed by capital goods at $4.39 billion.
Manufactured products generated 93.3% of Türkiye's total goods exports in October, reaching $24.15 billion. Agriculture, forestry and fishing contributed 3.2%, while mining accounted for 2.5%.
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