Turkey’s trade deficit narrowed to USD 5.6 billion in May 2026 from USD 6.6 billion in the same month a year earlier. It was the smallest trade gap since August 2025, as exports declined less than imports. Exports fell 9.5% year-on-year to USD 22.5 billion, with shipments decreasing across agriculture, forestry and fishing (-2.2%), mining and quarrying (-2.1%), and manufacturing (-10.0%). Germany remained the top destination, accounting for 7.6% of total exports, followed by the US (6.8%), the UK (6.1%), Italy (5.1%), and Spain (4.1%). Meanwhile, imports declined 10.8% to USD 28.1 billion, weighed down by lower purchases of capital goods (-18.3%), intermediate goods (-4.1%), and consumption goods (-30.1%). Russia remained the leading source of imports, accounting for 13.4%, followed by China (12.2%), Germany (7.3%), and the US (4.3%). In the first five months of the year, the trade deficit widened to USD 42.7 billion from USD 41.2 billion in the corresponding period of 2025.