Turkey’s Customs Data Reports and Global Import-Export Trade Data

Turkey occupies a unique geographic position, lying partly in Asia and partly in Europe. The country is the biggest exporter of cars, automotive parts or accessories, trucks, refined petroleum oils and jewellery.

In aggregate the major exports account for 15% of overall exports sales from Turkey. As per the Turkey Export Data, goods exported by Turkey are $15.6B and imported $ 19.8B, resulting in negative trade balance of $4.26B. Between July 2020 and July 2021 the exports of Turkey have increased by $ 1.43B from $14.1B to $15.6B, while imports increased by $2.69B from $17.2B to $19.8B.

The major trading partners for exports were Germany, United Kingdom, Iraq, Italy and United States. Germany was the leading export partner of Turkey in 2019. The country is an emerging market economy. The country ranks 29 in terms of exports.

The bulk of the country’s economy is made up of a diversified services sector including real estate, tourism, financial services, education and health. Industries play an important role, particularly in manufacturing which accounts for the large proportion of Turkish exports to Europe in the form of household goods. The Turkish government aims to reduce the import of Turkey’s dependency in its growth and export structure, while increasing its capabilities to become an exporter of high-tech products.

The country’s export hit all time high in April with a 109% increase to $18.8 billion managing to outperform pre-pandemic levels. The service exports of the country increased by 8.5% in 2019 as compared to last year.

As per the Turkey Import Data the main imports are machinery and transport equipment, fuels, chemicals and semi-finished goods. The trade statistics shows that the major import partners of the country are China, Germany, Russia, United States, Italy, Iraq, France and Switzerland.

Imports from Turkey increased to 825.21 USD million in the year 2021 from 708.54 USD million. The country ranks 26 in terms of total imports. The country has experienced series of economic challenges over the last several years mainly due to covid-19 pandemic.

With the sizable population the country of over 83 million, the country has aim of becoming a top ten economy by 2023. The Turkish economy grew by 18% in 2020. This showcases the magic uptick from the 2019’s 0.9% increase.

The United States goods and services trade with the country totalled an estimated $25.1 billion in 2020, down by $1.7 billion from 2019. Exports were $12.8 billion and imports were $12.3 billion. The US goods and services trade surplus with Turkey was $454 million down $1.2 billion from 2019.

For several decades both United States and Turkey, have enjoyed robust political and military relationship. However, steep inflation, falling currency, fluctuating unemployment and increase in protectionist and populist measures include import tariffs and localization efforts make it tough for Turkey to reach its goals.

India’s Fish Export Market Overview and Data Analysis

Ukraine Import-Export Trade Strategies and Custom Record and Data

Comments

Post a Comment

Popular posts from this blog

Import and Export Procedures in Vietnam 2023

Import Procedures in Vietnam: Import License: Some goods require an import license issued by the relevant authorities in Vietnam. Importers should check whether their products fall under this category. Customs Declaration: Importers must complete customs declarations accurately and submit them along with supporting documents to customs authorities. Vietnam Import Data Customs Clearance: Imported goods must undergo customs clearance procedures, which include inspection, assessment of duties and taxes, and compliance verification. Payment of Duties and Taxes: Importers are responsible for paying import duties, taxes, and other applicable fees based on the classification and value of the imported goods. Documentation: Required documents for importation typically include commercial invoices, packing lists, bill of lading or airway bills, import permits or licenses (if applicable), and certificates of origin. Export Procedures in Vietnam: Export Registration: Some products may require ex...
Read more

Russia Import Export Statistics 2023

  Russia's trade activities were significant, with both exports and imports playing crucial roles in its economy. Here's a general overview: Exports: Energy Resources: Russia is renowned for its vast energy resources, particularly oil and natural gas. These resources constitute a substantial portion of Russia's export revenue. Russia Export Data Minerals and Metals: Russia also exports various minerals and metals, including iron ore, coal, aluminum, and copper. Arms and Military Equipment: The country is a significant exporter of arms and military equipment to various countries around the world. Agricultural Products: Russia exports agricultural commodities such as wheat, barley, and other grains. Imports: Machinery: Russia imports machinery and equipment for industrial purposes, including machinery for manufacturing and infrastructure development. Russia Import Data Consumer Goods: Like many countries, Russia imports various consumer goods such as electronics, clothi...
Read more

Importance of Turkey Import Export in Trade Data Business

Are you planning to do trade business with Turkey? If so, it is very important to know the trade dynamics of the country so that you can make informed business decisions. Here comes the need of Turkey Global Import Export Data details on real-time basis for successful international trade expansion. Turkey Import Data is collected of statistical information about each company’s business activities. It is based on the shipping bills, import bills, invoices and other import export documents. The data provides a bird’s eye view of the commodities that are imported or exported in Turkey. The Turkey import and export data contains information about price, HS code, importers’ details, exporters’ details, custom data, shipment data, competitors’ data, product description and quantity. Know the importance of Turkey import export data 1. The authentic and real-time import export data is used to estimate the consumption pattern of Turkey. The businesses can predict the local demand of commoditi...
Read more