Turkey’s trade deficit narrowed to USD 6.44 billion in July 2025, down from USD 7.31 billion in the same month last year, marking the smallest trade gap since October 2024. Exports rose 11% year-on-year to USD 24.94 billion, led by higher sales in manufacturing (+12.1%) and other sectors (+27.1%), more than offsetting declines in agriculture (-11.3%) and mining (-16.1%). Germany remained the top export market (7.9%), followed by the UK (6.8%) and the US (6.3%), which imposed a 15% reciprocal tariff on Turkish exports starting in August. Meanwhile, imports increased at a softer pace of 5.4% to USD 31.38 billion, driven by higher purchases of capital goods (+14.2%), consumer goods (+17.2%), and other products (+275.9%), while imports of intermediate goods were nearly flat (+0.1%). Key import sources were China (14.8%), Russia (11.3%), and Germany (9.6%). For the January–July period, the trade deficit widened to USD 55.90 billion, compared with USD 49.81 billion in 2024.