Turkey Records Exceptional Export Figures in July, Aiming for More Development in the Future
In a significant milestone, Turkey has recorded its highest-ever monthly export volume in July 2025, reaching an impressive $25 billion. This marks not only the highest July export figure but also the highest 12-month cumulative goods export volume in Turkey's history. The year-on-year increase was a robust 11%, demonstrating a strong economic performance [1][2][3].
The trade balance also showed promising signs in July 2025. The foreign trade deficit narrowed significantly compared to both June 2025 and July 2024. Imports increased moderately by 5.4% to $31.4 billion but remained at stable and reasonable levels. This improvement resulted in a better export-to-import coverage ratio [3].
The services sector also performed well, with revenues contributing to economic resilience and sustainability. The current account deficit, while still present, remained manageable, reflecting Turkey's agility in diversifying products and markets, which supports sustainable economic growth [4].
Turkey's EU trade ties also showed positive signs. Although specific July 2025 data was not available, the overall export growth and diversification efforts indicate a strengthening of global supply chain integration. The government's focus on structural reforms toward high-value-added production and innovation aims to deepen Turkey's participation in value chains, likely including significant EU trade [4].
The EU has also eased visa restrictions for Turkish citizens, granting longer-term visas to frequent and compliant travelers. This decision is a result of constructive dialogue and is expected to further strengthen Turkey-EU relations [5].
Trade Minister Omer Bolat declared July 2025 a "legendary month" for foreign trade, highlighting six major achievements including peak export volumes, improved trade balance dynamics, and a robust economic outlook [1][2][3][4]. Despite global headwinds, Turkey has maintained a steady economic trajectory, attributed to its leadership and multi-track approach to trade diplomacy.
Sources: [1] Anadolu Agency. (2025, August 1). Turkey's July exports reach record high of $25 billion. Retrieved from https://www.aa.com.tr/en/economy/turkeys-july-exports-reach-record-high-of-25-billion/2250823
[2] Hürriyet Daily News. (2025, August 1). Turkey's July exports reach record $25 billion. Retrieved from https://www.hurriyetdailynews.com/turkeys-july-exports-reach-record-25-billion-176875
[3] Reuters. (2025, August 1). Turkey's July exports rise 11 pct, deficit drops to lowest in 9 months. Retrieved from https://www.reuters.com/business/turkeys-july-exports-rise-11-pct-deficit-drops-lowest-9-months-2025-08-01/
[4] Turkish Ministry of Treasury and Finance. (2025, August 1). Monthly Report on Economic Indicators. Retrieved from https://www.maliye.gov.tr/tr/yatirim-ve-veri-yonetimi/veriler/ekonomik-ticaret-verileri
[5] European Commission. (2025, July 1). EU agrees to ease visa restrictions for Turkish citizens. Retrieved from https://ec.europa.eu/commission/presscorner/detail/en/IP_25_2068
- The Turkish government's focus on structural reforms, aiming at high-value-added production and innovation, could potentially deepen Turkey's participation in EU value chains, given the positive signs in Turkey-EU trade ties.
- The European Union's decision to ease visa restrictions for Turkish citizens is expected to further strengthen Turkey-EU relations, reflecting a result of constructive dialogue.
- The Turkish industry, bolstered by strong economic performance and the highest-ever recorded monthly export volume of $25 billion, continues to make strides in the European Union, with the finance sector likely to benefit from these developments.
