Trade Trend

In 2023, Turkey's total export value is 256.54Billion USD, total import value is 361.99Billion USD, Deficit is -105.44Billion USD, and foreign trade dependency is 0.558. In 2023，Turkey's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(13.73Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(11.56Billion USD), Jewellery articles and parts thereof, of precious metal or of metal clad with precious metal(8.39Billion USD), top export destinations are Germany(21.11Billion USD), United States(14.91Billion USD), Iraq(12.81Billion USD). In 2023, Turkey's top import products are None(39.16Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(30.02Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(20.48Billion USD), top import origins are Russia(45.76Billion USD), China(44.99Billion USD), Germany(28.68Billion USD).

Comparing to 2022, Turkey's total export value increased 1.83Billion USD(0.72%) in 2023, this could result from its export increases of products such as Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(3.28Billion USD or 311.94%), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(2.20Billion USD or 23.50%), Wheat and meslin(872.59Million USD or 500.86%) and export increases to countries/economics such as United Arab Emirates(3.20Billion USD or 58.98%), None(1.85Billion USD or 700.58%), Russia(1.57Billion USD or 16.76%). Comparing to 2022, Turkey's total import value decreased -1.74Billion USD(-0.48%) in 2023, this could result from its import decreases of products such as None(-25.67Billion USD or -39.59%), Coal; briquettes, ovoids and similar solid fuels manufactured from coal(-2.64Billion USD or -32.31%), Ferrous waste and scrap; remelting scrap ingots of iron or steel(-2.12Billion USD or -21.78%), and its import decreases from countries/economies such as Russia(-13.12Billion USD or -22.28%), None(-9.92Billion USD or -28.75%), India(-2.76Billion USD or -25.81%).

Cumulated to first 7 months of 2024, Turkey's total export value is 83.22Billion USD, total import value is 112.02Billion USD, and tradedeficit is -28.80Billion USD. Cumulated to first 7 months of 2024, Turkey's top export products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(4.64Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(3.67Billion USD), Vehicles; for the transport of goods(2.67Billion USD), and top export destinations are Germany(7.32Billion USD), United States(6.85Billion USD), United Kingdom(4.78Billion USD). Cumulated to first 7 months of 2024, Turkey's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(4.64Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(3.67Billion USD), Vehicles; for the transport of goods(2.67Billion USD), and top import origins areChina(16.68Billion USD), Russia(11.98Billion USD), Germany(8.71Billion USD).