Turkey is the 27th largest export economy in the world and the 52nd most complex economy. Turkey exported $166B, making it the 27th largest exporter in the world. Turkey imported $214B, making it the 20th largest importer in the world. Turkey’s major export products include clothes, electronics, automobiles and agricultural products. Other major products exported from Turkey include iron and steel, mineral fuels and oil, precious stones and tobacco. On the other hand, the major import commodities for Turkey include electrical equipment, mechanical appliances, optical instruments, iron and steel, and pharmaceutical products. Turkey’s major import partners are the USA, Russia, Germany, Italy, France, Switzerland and the UK.
Imports to Turkey plunged 22.7 percent from a year earlier to USD 14.26 billion in June 2019. Purchases of intermediate goods, which accounted for 77.3 percent of total imports, dropped 19.3 percent; and those of capital and consumption goods slumped 23.8 percent and 38.4 percent, respectively. Among major trading partners, imports declined from Russia (-14.3 percent), China (-30.6 percent), Germany (-33.5 percent), the US (-20.0 percent), Italy (-24.5 percent), France (-41.6 percent), India (-23.0 percent), South Korea (-30.1 percent), and the UK (-25.2 percent). In contrast, imports from the UAE increased 53.3 percent.. Imports in Turkey averaged 4919.92 USD Million from 1957 until 2019, reaching an all time high of 23245.30 USD Million in May of 2013 and a record low of 15 USD Million in August of 1958.
Imports in Turkey is expected to be 14500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Turkey to stand at 16900.00 in 12 months time. In the long-term, the Turkey Imports is projected to trend around 20100.00 USD Million in 2020
Turkey’s main imports were: machinery and transport equipment (31 percent of total imports), of which road vehicles (7 percent) and electrical machinery, apparatus and appliances (6 percent); manufactured goods (16 percent), of which iron and steel (5 percent); mineral fuels, lubricants and related materials (16 percent), of which petroleum and petroleum products (4 percent); chemicals and related products (13 percent), of which plastics (4 percent); gold, non-monetary (7 percent); crude materials, inedible, except fuels (7 percent); miscellaneous manufactured articles (6 percent); and food and live animals (4 percent). The country’s main imports’ sources were: China (10 percent of total imports); Germany (9 percent); Russia (8 percent); the US and Italy (5 percent each); France, Iran, Switzerland, South Korea, the UK, Spain and India (3 percent each).
Exports from Turkey slumped 14.3 percent from a year earlier to USD 11.08 billion in June 2019, as shipments of manufactured products, which accounted for 94 percent of total sales, tumbled 14.6 percent. Also, exports of mining and quarrying declined 8.1 percent, while those of agriculture, hunting and forestry fell 9.4 percent. Among major trading partners, exports decreased mainly to Germany (-17.8 percent), the UK (-22.4 percent), Italy (-24.6 percent), Iraq (-8.3 percent), the US (-22.3 percent), Spain (-21.6 percent), Romania (-10.7 percent) and Russia (-2.1 percent). By contrast, sales rose to France (10.7 percent) and the Netherlands (41.1 percent).
Exports in Turkey averaged 3208.22 USD Million from 1957 until 2019, reaching an all time high of 15956.30 USD Million in May of 2019 and a record low of 7.10 USD Million in August of 1958. Exports in Turkey is expected to be 15600.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Turkey to stand at 16200.00 in 12 months time. In the long-term, the Turkey Exports is projected to trend around 20200.00 USD Million in 2020
Turkey’s major exports were: machinery and transport equipment (31 percent of total exports), of which road vehicles (15 percent) and electrical machinery, apparatus and appliances (6 percent); manufactured goods (25 percent), of which textile yarn, fabrics, made-up articles (7 percent), iron and steel (6 percent) and manufactures of metals (4 percent); miscellaneous manufactured articles (18 percent), of which articles of apparel and clothing accessories (10 percent); food and live animals (9 percent), of which fruits and vegetables (4 percent); chemicals and related products (6 percent); and gold, non-monetary (4 percent). Turkey’s main export partners were: Germany (10 percent of total exports); the UK, the UAE, Iraq and the US (6 percent each); Italy (5 percent); France and Spain (4 percent each).
