Mineral Fuels Import of Turkey: The Trade Analysis of 2024

Turkey, based at the crossroads of Europe and Asia surrounded by Greece, Georgia, Armenia, and Iraq in the Northwest, Northeast, east, and southeast directions has recorded itself as a topmost importer of mineral fuels in the global trade market. Turkey Export Data says, the strategic geographic location of the nation within the crossroads of Europe, Asia, and the Middle East has made it a transit trade hub for crude oil and diesel imports from leading exporters like Russia. Apart from the geographic location, the effective interaction of the management firms has led to a total import of LNG worth 400,000 barrels per day in 2024.

The industrial expansion via the effective production capacity of the manufacturing units and the stronger economic ties with Russia with the active strategies for diversification, has led to a total annual valuation of imports worth 42 billion US dollars in 2024. Import Globals with its Turkey Trade Data provides a detailed analysis of the overall valuation of mineral fuels imported in the nation, this analysis of the latest imports promotes the business holders’ understanding regarding the investment opportunities available. It facilitates the decisions taken by them regarding future investment while aiding the active integration with the competitors.

GOVERNMENT INITIATIVES SUPPORTING THE IMPORT OF MINERAL FUELS IN TURKEY

The government authority’s implemented initiatives collectively work to expand the reach of the domestic authorities in the foreign trade market both in terms of import and export. The signing of Long Term LNG Suppliers Agreements with the topmost producers of LNG in the global market like ExxonMobil, Total Energies, Shell, and Oman has enabled the diversification of fuel while reducing the dependency on the Russian resources. It has boosted the import volume with favorable pricing strategies.

The stronger pipeline and port expansion capabilities have facilitated the import of more gaseous substances according to the needs of the domestic population. The initiative was structured specifically to enable the users to properly handle pipeline mineral fuel imports while supporting the domestic use of essentials. The sustainability of coal subsidies maintained by the government authorities despite the global decarbonization has increased the import of thermal coal in Turkish Energy Firms; in order to meet the domestic demand.

THE LEADING VARIANTS OF MINERAL FUELS IMPORTED IN TURKEY IN 2024

Turkey’s valuable pricing ranges on specific goods have been working as a cornerstone while attracting foreign investors in domestic trades. According to the Turkey Import Data, the top 10 leading variants of mineral fuels imported in the nation in 2024 are,

  1. Petroleum oils — The total valuation of Petroleum oils imported in Turkey in 2024–17 billion US dollars
  2. Processed petroleum oils — The total valuation of Processed petroleum oils imported in Turkey in 2024–12 billion US dollars
  3. Coal — The total valuation of Coal imported in Turkey in 2024–10 billion US dollars
  4. Petroleum gases — The total valuation of Petroleum gases imported in Turkey in 2024–8 billion US dollars
  5. Fuel oil & petroleum residues — The total valuation of Fuel oil & petroleum residues imported in Turkey in 2024–6.98 billion US dollars
  6. Petroleum coke– The total valuation of Petroleum coke imported in Turkey in 2024–5.42 billion US dollars
  7. Bitumen — The total valuation of Bitumen imported in Turkey in 2024–4.78 billion US dollars
  8. Coking coal tar oils — The total valuation of Coking coal tar oils imported in Turkey in 2024–3.91 billion US dollars
  9. Petroleum jelly — The total valuation of Petroleum jelly imported in Turkey in 2024–2.78 billion US dollars
  10. Coke pitch — The total valuation of Coke pitch imported in Turkey in 2024–1.65 billion US dollars

TOP 10 IMPORT TRADE PARTNERS OF TURKEY FOR MINERAL FUELS IN 2024

The active participation in the trade fairs and the stronger trade relations with the massive producers of globally sought-after commodities have resulted in the import of domestic necessities from different emerging markets. As per the Turkey Customs Data, the top 10 import trade partners of the nation in 2024 are,

  1. Russia — The annual import trade value of mineral fuels imported in Turkey from Russia in 2024–15.42 billion US dollars

Top 5 variants of mineral fuels imported

1. Bitumen

2. Asphalt

3. Bituminous mixtures

4. Cracked gas oil

5. Vacuum gas oil

2. India — The annual import trade value of mineral fuels imported in Turkey from India in 2024–13.28 billion US dollars

Top 5 variants of mineral fuels imported

1. Slack wax

2. Microcrystalline wax

3. Petroleum coke (petcoke)

4. Green petroleum coke

5. Calcined petroleum coke

3. Turkmenistan — The annual import trade value of mineral fuels imported in Turkey from Turkmenistan in 2024–10 billion US dollars

Top 5 variants of mineral fuels imported

1. Alkylate

2. Isomerate

3. Petroleum ether

4. Petroleum jelly

5. Paraffin wax

4. Algeria — The annual import trade value of mineral fuels imported in Turkey from Algeria in 2024–8 billion US dollars

Top 5 variants of mineral fuels imported

1. Kerosene

2. Heating oil

3. White spirit

4. Naphtha

5. Reformate

5. USA — The annual import trade value of mineral fuels imported in Turkey from the USA in 2024–6.87 billion US dollars

Top 5 variants of mineral fuels imported

1. Diesel fuel

2. Biodiesel blends

3. Gasoline (petrol)

4. Aviation gasoline (avgas)

5. Jet fuel

6. Qatar — The annual import trade value of mineral fuels imported in Turkey from Qatar in 2024–5.42 billion US dollars

Top 5 variants of mineral fuels imported

1. Natural gas liquids (NGLs)

2. Condensate

3. Fuel oil

4. Heavy fuel oil

5. Light fuel oil

7. Nigeria — The annual import trade value of mineral fuels imported in Turkey from Nigeria in 2024–4.76 billion US dollars

Top 5 variants of mineral fuels imported

1. Petroleum gas

2. Propane

3. Butane

4. Isobutane

5. Ethane

8. Azerbaijan — The annual import trade value of mineral fuels imported in Turkey from Azerbaijan in 2024–3.87 billion US dollars

Top 5 variants of mineral fuels imported

1. Coking coal (metallurgical coal)

2. Anthracite

3. Bituminous coal

4. Sub-bituminous coal

5. Lignite

9. Colombia — The annual import trade value of mineral fuels imported in Turkey from Colombia in 2024–2.75 billion US dollars

Top 5 variants of mineral fuels imported

1. Natural gas (methane)

2. Liquefied natural gas (LNG)

3. Compressed natural gas (CNG)

4. Coal

5. Thermal coal

10. Australia — The annual import trade value of mineral fuels imported in Turkey from Australia in 2024–1.98 billion US dollars

Top 5 variants of mineral fuels imported

1. Crude petroleum oil

2. Light crude oil

3. Heavy crude oil

4. Sweet crude oil

5. Sour crude oil

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