How Turkey Custom Trade Data can help in Export Import Business?

As per the Custom Import Export Data, the economy of Turkey grew by 11% in 2021. The economy of the country was the fastest growing among all the G20 countries, because of the sharp increase in the exports.

The country has an upper middle-income mixed market emerging economy. It is EU’s 6th biggest trade partner, with 3.3% of the EU’s total trade in goods both imports and exports combined in 2022. The economy of the country is the 19th largest in the world by nominal GDP and the 11th largest by the purchasing power parity.

Over the past two decades, there has been major development in the financial and social aspects of the country’s economy like increase in the employment and average income since 2000. EU is by far Turkey’s largest merchandise import and export partner. In 2022, 41% of Turkey’s exports went to EU and 26% of its imports came from EU.

According to Turkey Import Data, the main imports of the country are refined petroleum, scrap iron, cars, petroleum gas, and motor vehicles, parts and accessories. The main import partners are China, Germany, Russia, United States and Italy.

Imports of Turkey in 2021 as percentage of GDP were 38.5% and the value of the imports was $291.02B, a 25.39% increase from 2020.

As per Turkey Export Data, the main exports of the country are cars, jewellery, refined petroleum, motor vehicles, parts and accessories, and delivery trucks. The main exporters are Germany, United States, United Kingdom, Italy and Iraq.

Turkey exported $234B in 2021 making it 28th exporter in the world. The country is a well-known trading hub that supplies the world with many exports. The exports of the country in 2021 were 22 billion 278 million dollars with an increase of 24.9%.

For the importers and exporters of Turkey, it is important to first analyze the foreign trade scenario of the country so that businesses can make informed decisions. Turkey Global Trade Data is the key for the successful conduct of import export business in the country.

The authentic, reliable and real-time Turkey Trade data is a collection of statistics and facts based on the shipping bills, export bills and other export-export documents required for trading goods across international borders.

Turkey data is authentic custom data information formulated by the expert data specialists and statisticians who provide information about HS code, shipping names, product description, value and quantity, country origin and destination, port, competitors’ details and more.

How Turkey Global Data can help Export Import business?

Turkey Global Data is a valid key to study trade market of Turkey. The success of the business undertaking depends on the quality and reliability of trade data so it is considered the pillar for the success of foreign trade with Turkey.

1. Market fluctuations: The Turkey Data plays a crucial role in running a business at the international level. It helps the importers and exporters of Turkey know the present demand in the trade market and help to know the fluctuation in the market trends of the product.

2. Reduce the business risks: The data will minimize the business risks and helps the businesses analyze the Turkey market dynamics to generate new business leads.

3. Analyze patterns, trends and changes: Turkey import export data help analyze the trends, changes and patterns in the trade flows over time. By examining import and export data, policy makers, businesses, and economists can know the competitiveness of the industries, identify the emerging markets and evaluate the impact of trade policies.

4. Insight on raw materials flow: The data gives an accurate and real-time insight about the flow of material across countries. It helps to identify the highest exporter nation for a particular commodity. This can help businesses plan the strategies for getting materials.

5. Analyze trading trends: Importers and Exporters of Turkey can analyze how trade policies impact the goods flow. Changes in the policies can have an impact on the raw materials flow. These changes can be found by examining the Turkey trade data. This information will help businesses make calculative decisions and achieve success in their foreign trade with Turkey.

6. Competitor’s moves: Turkey Import Export Data help the businesses know the moves about their competitors. This includes the quantity imported/exported by them, value of their imports/exports, address, shipment details and more. Importers and exporters can plan their moves accordingly after analyzing the competitor’s moves.

7. List of importers and exporters: Turkey Global Trade Data helps in getting the list of importers and exporters of a particular country or product. The businesses can get the list of importers and exporters of Turkey and can easily plan their business moves by contacting them and negotiating the deals.

8. Know the customer’s requirements: By analyzing the import export data, businesses can get an idea about the requirements of Turkey’s customers. By analyzing the shipment data, they can get details of what goods are imported to Turkey and its volume. Based on this information, businesses can plan their policies to target the customer base of Turkey effectively.

Wrap up

Turkey Global Data will help businesses plan their moves accordingly by framing accurate policies. The data will help them get a bird’s eye view of the Turkey’s trade dynamics including customer’s preferences, competitor’s move and more.

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