Foreign Trade Statistics
|
USD Billion |
||||||||
|
|
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
|
Exports (FOB) |
113.883 |
134.907 |
152.462 |
151.803 |
157.610 |
143.839 |
142.530 |
156.993 |
|
Imports (CIF) |
185.544 |
240.842 |
236.545 |
251.661 |
242.177 |
207.234 |
198.618 |
233.800 |
|
Trade Volume |
299.427 |
375.749 |
389.007 |
403.464 |
399.787 |
351.073 |
341.148 |
390.793 |
|
Trade Balance |
-71.661 |
105.935 |
-84.083 |
-99.859 |
-84.567 |
-63.395 |
-56.089 |
-76.807 |
Source: Turkish Statistical Institute (TURKSTAT)
The economy of Turkey has reached high growth rates thanks to the liberalization process that has been implemented since the 1980s. One of the most important milestones of this process is that Turkey became a member of the World Trade Organization (WTO) in 1995. Following this development, Turkey concluded negotiations with the EU and entered the Customs Union on January 1, 1996. As a result of all these steps, foreign trade has increased rapidly in terms of both exports and imports. Significant changes have been observed in the structure of export commodities, which is a factor in industrial products substituting agricultural products.
Export
In line with the policies implemented since 1980 and implemented within the framework of the export-based development model, the importance of exports for Turkey has increased enormously both in terms of quality and quantity.
Especially in the process that started in 1980 and lasted until the mid-1990s, very important developments were observed in the market share of labor-intensive industrial products such as textile and garment, iron-steel and foodstuff production.
In 1996, with the Customs Union Agreement with the European Union, Turkey entered a new structural transformation process in exports. Developments in recent years show that production and exports have increased significantly in sectors requiring high technology such as electrical/electronical machinery and equipment and automobile production. From this perspective, it is seen that the share of industrial products manufacturing in the export market has also increased.
Most Exported Product Groups in 2017
|
Product Groups |
USD billion |
Share in total exports (%) |
|
|
1 |
Vehicles other than railway or tramway wagons; parts thereof |
23,940 |
15,3 |
|
2 |
Boilers, machines, mechanical devices and tools; parts thereof |
13,825 |
8,8 |
|
3 |
Precious stones, precious metals, pearls and products of them |
10,879 |
6,9 |
|
4 |
Knitted and crocheted products and goods thereof |
8,840 |
5,6 |
|
5 |
Iron-steel |
8,230 |
5,2 |
|
6 |
Electrical machinery and devices; parts thereof |
8,090 |
5,2 |
|
7 |
Products not being knitted and crocheted and goods thereof |
5,948 |
3,8 |
|
8 |
Iron-steel products |
5,599 |
3,6 |
|
9 |
Plastic and plastic products |
5,474 |
3,5 |
|
10 |
Mineral fuels, mineral oils and products of their distillation |
4,327 |
2,8 |
Source: Turkish Statistical Institute (TURKSTAT)
Major Export Markets in 2017
|
Markets |
billion USD |
Share (%) |
|
A-EU 28 |
73,906 |
47,1 |
|
B-Free Zones in Turkey |
1,995 |
1,3 |
|
C-Other Countries |
81,092 |
51,7 |
|
1- Other European Countries |
9,805 |
6,2 |
|
2- North African countries |
7,525 |
4,8 |
|
3- Other African countries |
4,149 |
2,6 |
|
4- North America countries |
9,700 |
6,2 |
|
5- Central American countries and the Caribbean |
1,171 |
0,7 |
|
6- South America countries |
1,295 |
0,8 |
|
7- Near and Middle Eastern countries |
35,334 |
22,5 |
|
8- Other Asian countries |
11,271 |
7,2 |
|
9- Australia and New Zealand |
0,648 |
0,4 |
|
10- Other countries |
0,192 |
0,1 |
Source: Turkish Statistical Institute (TURKSTAT)
Import
The import regime of Turkey emphasizes the liberalization in terms of full harmonization with the Customs Union established with the EU, continuing existing relations with the EFTA (European Free Trade Association) and fulfilling the obligations of membership of the World Trade Organization (WTO). In order to comply with the Common Customs Tariff, Turkey attributes special importance to the work carried out to reduce customs rates. With the necessary changes in the import regime, the Customs Union Agreement with the EU came into force on 1 January 1996. The main objective of the import regime that Turkey has adopted since the 1980s can be summarized as follows:
Turkey's Membership to International Trade Organizations
Turkey has been a member of the World Trade Organization (WTO) since 1995. Participation and membership in Economic Cooperation Organization (ECO), United Nations Trade and Development Organization (UNCTAD), Black Sea Economic Cooperation Organization (BSEC), World Customs Organization (DGO), International Chamber of Commerce (ICC), D-8 and other similar organizations is a clear indication of Turkey's commitment to integration with regional and international trade norms.
In addition to the Customs Union with the EU, Turkey have signed Free Trade Agreements with Albania, Bosnia and Herzegovina, Faroe Islands*, Morocco, Palestine, Ghana*, South Korea, Georgia, Israel, Switzerland and Liechtenstein, Iceland, Montenegro, Kosovo*, Lebanon*, Macedonia, Malaysia, Egypt, Moldova*, Mauritius, Norway, Serbia, Singapore*, Syria (suspended), Chile, Tunisia and Jordan (* under approval process)
