Trade Growth of Turkey in 2023

Turkey is a transcontinental nation on the crossroads of Europe and Asia occupying a land area of 783,356 square kilometers bordered by Georgia, Armenia, Azerbaijan, Iraq, Syria, Greece, and Bulgaria in the north, east, south, and west direction has its maritime borders with the Black Sea and the Mediterranean Sea in north and west.  The growing population and the increasing necessities of the consumer rates and the industrial sectors have led to a total import trade value of 200 billion US dollars in 2023 with a significant increase of 6.7% i.e. 156 billion US dollars in 2022.



Apart from the growing import trade rate of the nation, Turkey Trade Data says due to the increasing productivity and the infrastructure development of the industries and transportation ports the nation’s current export trade value stands at a staggering point of 278 billion US dollars in 2023 i.e. an increase of 4.8% than that of 2022 worth 250 billion US dollars. Import Globals Turkey Customs Data highlights all the key factors behind the country’s growing economy to give a proper analysis of techniques for trade growth to the globally ranking business holders.

TOP ACQUIREMENTS \ IMPORTS OF TURKEY IN 2023

The import trade demographics of Turkey are shaped by different factors like growing economic growth, stable political relations with the top traders, and the industrial acquired necessities. As per the Turkey Import Data, the top acquirements of the nation in 2023 are;

• Mineral fuels (HS code - 27) – Import trade cost rate of Mineral fuels 2023 – 37 billion US dollars.

IMPORT VARIATIONS OF MINERAL FUELS

1. Crude Oil

2. Refined Petroleum Products

3. Natural Gas

4. Coal

5. Gasoline and Diesel

• Machinery (HS code - 84) – Import trade cost rate of Machinery 2023 –30 billion US dollars.

IMPORT VARIATIONS OF MACHINERY

1. Industrial Machinery

2. Construction Machinery

3. Agricultural Machinery

4. Mining Machinery

5. Material Handling Equipment

• Electrical machinery and equipment (HS code - 85) – Import trade cost rate of Electrical Machinery and equipment 2023 – 28 billion US dollars.

IMPORT VARIATIONS OF ELECTRICAL MACHINERY AND EQUIPMENT

1. Electrical Generators

2. Transformers

3. Switchgear and Circuit Breakers

4. Electric Motors and Drives

5. Telecommunications Equipment

• Vehicles (HS code - 87) – Import trade cost rate of Vehicles 2023 – 25 billion US dollars.

IMPORT VARIATIONS OF VEHICLES

1. Passenger Cars

2. Commercial Vehicles

3. Motorcycles and Scooters

4. Buses

5. Specialized Vehicles

• Iron and steel (HS code - 72) – Import trade cost rate of Iron and steel 2023 – 16 billion US dollars.

IMPORT VARIATIONS OF IRON AND STEEL

1. Raw Iron Ore

2. Semi-Finished Steel Products

3. Flat Products

4. Long Products

5. Steel Pipes and Tubes

IMPORT TRADE STATISTICS OF TURKEY FOR THE LAST 10 YEARS

Import trade value of Turkey in 2013 – 156 billion US dollars

Import trade value of Turkey in 2014 - 160 billion US dollars

Import trade value of Turkey in 2015 – 155 billion US dollars

Import trade value of Turkey in 2016 – 160 billion US dollars

Import trade value of Turkey in 2017 - 168 billion US dollars

Import trade value of Turkey in 2018 – 170 billion US dollars

Import trade value of Turkey in 2019 – 176 billion US dollars

Import trade value of Turkey in 2020 – 180 billion US dollars

Import trade value of Turkey in 2021 - 147 billion US dollars

Import trade value of Turkey in 2022 – 156 billion US dollars

TOP PRODUCTIONS / EXPORT OF TURKEY IN 2023

The increasing production rate of the industrial sectors due to the low labor cost workforce and the easy transportation of the produced goods have indulged the export trade of Turkey for a substantial share in the growing economy. As per the Turkey Export Data, the top exports of the nation in 2023 are discussed below,

• Vehicles (HS code - 87) – Export trade cost rate of Vehicles in 2023 – 26 billion US dollars.

Export Variations of Vehicles

1. Passenger Cars

2. Commercial Vehicles

3. Automotive Parts and Components

4. Electric Vehicles

5. Special Purpose Vehicles

• Machinery (HS code - 84) – Export trade cost rate of Machinery in 2023 – 17 billion US dollars.

Export Variations of Machinery

1. Industrial Machinery

2. Construction Machinery

3. Agricultural Machinery

4. Textile Machinery

5. Electric Machinery and Equipment

• Textiles (HS code - 59) – Export trade cost rate of Textiles in 2023 – 14 billion US dollars.

Export Variations of Textiles

1. Apparel and Clothing

2. Textile Fabrics

3. Home Textiles

4. Yarns and Threads

5. Technical Textiles

• Iron and steel products (HS code - 73) – Export trade cost rate of Iron and Steel products in 2023 – 13 billion US dollars.

Export Variations of Iron and Steel Products

1. Flat-Rolled Products

2. Long iron Products

3. Steel Pipes and Tubes

4. Steel Wire

5. Steel Plates

• Electrical Machinery(HS code - 85) – Export trade cost rate of Electrical machinery in 2023 – 11 billion US dollars.

Export Variations of Electrical Machinery

1. Transformers

2. Electrical Generators

3. Electric Motors and Drives

4. Switchgear and Circuit Breakers

5. Telecommunications Equipment

EXPORT TRADE STATISTICS OF TURKEY FOR THE LAST 10 YEARS

Export trade value of Turkey in 2013 – 116 billion US dollars

Export trade value of Turkey in 2014 - 120 billion US dollars

Export trade value of Turkey in 2015 – 125 billion US dollars

Export trade value of Turkey in 2016 – 130 billion US dollars

Export trade value of Turkey in 2017 - 128 billion US dollars

Export trade value of Turkey in 2018 – 135 billion US dollars

Export trade value of Turkey in 2019 – 140 billion US dollars

Export trade value of Turkey in 2020 – 158 billion US dollars

Export trade value of Turkey in 2021 - 217 billion US dollars

Export trade value of Turkey in 2022 – 250 billion US dollars

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