Xifres de comerç exterior de Turquia

Foreign Trade in Figures

Türkiye’s economy is open to foreign trade, which represents 66% of its GDP (World Bank, latest data available). Automobiles (12.1%% of total exports including passenger cars, transport vehicles and accessories for vehicles), machinery (9.9%), mineral fuels and oils (6.4%), and electrical machinery (6%) were the top exports in 2023, with precious stones and metals also being pivotal (5.3%). The main product categories imported were mineral fuels and oils (19.1%), machinery (11.3%), precious stones and metals (9.4%), and vehicles (8.9% - data Turkstat).

Germany (8.2% of all exports), the U.S. (5.8%), Iraq (5%), the United Kingdom (4.9%), and Italy (4.8%) were among the top destinations for Turkish exports in 2023. Russia (12.6%), China (12.4%), and Germany (7.9%) were the main suppliers of goods, followed by Switzerland (5.5%) and the United States (4.4% - data Turksta). Türkiye has 23 active free trade agreements (FTAs), including its very first trade deal with the European Economic Area in 1991 and the most recent one with the United Kingdom. The FTAs signed with Lebanon, Qatar, Sudan and Ukraine are under ratification process. At the same time, Türkiye has pursued FTA negotiations with Japan, Thailand and Indonesia and will start renegotiating the terms of its existing agreements with Georgia, Malaysia and Moldova.

Turkish trade structure has been characterised by a wide deficit, mainly due to energy imports. Also, as most of its exports are tied to imports of intermediate, semi-finished or raw products, the evolution of the trade balance has been traditionally linked to economic growth and the lira's value against the U.S. dollar. In 2023, Türkiye's imports of goods totalled USD 361.7 billion, whereas the total value of its exported goods reached USD 255.7 billion (-0.5% and +0.6% year-on-year, respectively – data WTO). According to WTO, exports of services in 2023 were higher than imports, at USD 101.2 billion and USD 49 billion, respectively. Overall, the trade balance was negative by 2.4% of GDP (it stood at -2.4% one year earlier - World Bank). According to preliminary figures by Turkstat, from January to December 2024, exports totalled USD 261.855 billion, marking a 2.4% increase, while imports reached USD 344.020 billion, showing a 5.0% decrease compared to the same period in 2023. In the same period, intermediate goods accounted for 69.3%, capital goods for 14.7%, and consumption goods for 15.8% of total imports, while the ratios of manufacturing industries products, agriculture, forestry and fishing, and mining and quarrying in total exports were 94.1%, 3.6%, and 1.7%, respectively.