Istanbul: Trkiye's exports rose 2.9% year-on-year to $25.6 billion in July, marking the highest export figure ever recorded for the month, Trade Minister Omer Bolat said Monday. The figure was also the second-highest monthly export total in the 103-year history of the Republic of Trkiye, Bolat told a press conference in Istanbul.

According to Anadolu Agency, imports increased 5.2% from a year earlier to nearly $33 billion, while the country's foreign trade volume expanded 4.1% to $58.6 billion. The foreign trade deficit widened 14% to $7.37 billion, compared with $6.46 billion in July 2025. The export-to-import coverage ratio declined by 1.7 percentage points to 77.7%. Excluding energy and gold trade, the export-to-import coverage ratio stood at 90.8% in July.

During the January-July period, exports grew 3.4% year-on-year to $161.6 billion, while imports rose 4.7% to $222.1 billion. The seven-month foreign trade deficit increased 8.2% to $60.5 billion, with total trade volume rising 4.1% to $383.7 billion. The export-to-import coverage ratio stood at 72.8%, down from 73.6% in the same period last year.

Annualized exports reached an all-time high of $278.6 billion as of July, increasing 3.4% from the previous 12-month period, Bolat said. Annualized imports climbed 5% to $375.3 billion, while the foreign trade deficit rose 7.4% to $96.8 billion. The annualized foreign trade volume increased 4.3% to $653.9 billion, while the export-to-import coverage ratio fell to 74.2% from 75.3%.

Germany was Trkiye's largest export destination in July, receiving $2 billion worth of goods, followed by the US with $1.7 billion and the UK with $1.3 billion. By broad economic category, exports of intermediate goods totaled $13.3 billion, while consumer goods exports amounted to $7.9 billion and capital goods exports stood at $3.7 billion. Manufacturing accounted for $24.2 billion of total exports, while agriculture, forestry and fisheries contributed $800 million and mining and quarrying generated $500 million. The 10 sectors with the largest shares in exports accounted for 44.8% of Trkiye's total overseas shipments in July.