Turkey’s trade deficit widened to USD 8.4 billion in January 2026 from USD 7.5 billion in the same month last year, confirming preliminary estimates from the Trade Ministry. Exports dropped 4.1% year-on-year to USD 20.3 billion, weighed down by lower manufacturing shipments (-4.7%), partly offset by higher exports of agriculture, forestry and fishing (+2.4%), mining and quarrying (+13.1%), and other sectors (+8.7%). Germany remained the top export market (8.8%), followed by the UK (6.3%), the US (6.0%), Italy (5.2%), and Iraq (4.4%). Meanwhile, imports edged up 0.1% to USD 28.7 billion, as increased purchases of capital goods (+9.7%) and other goods (+195.2%) offset declines in intermediate goods (-1.0%) and consumption goods (-5.7%). The main sources of imports were China (14.9%), followed by Russia (10.7%), Germany (6.5%), the US (6.3%), and Switzerland (4.4%).